SpiceJet settles with lessors of Boeing planes

Low-cost carrier SpiceJet has entered into a settlement agreement with aircraft lessor Goshawk Aviation Limited and its affiliated leasing entities, namely Wilmington Trust SP Services (Dublin) Limited, Sabarmati Aviation Leasing Limited and Falgu Aviation Leasing Limited, regarding two Boeing 737 MAX. and a Boeing 737-800 NG.

The airline said on Tuesday that the settlement will allow two more fuel-efficient Boeing 737 MAX aircraft to enter service in the SpiceJet fleet.

“The parties have agreed to settle all of their disputes under and related to the aircraft lease agreements for three aircraft. The agreement, the terms of which are confidential, terminates all contentious proceedings between the parties. All proceedings, including in UK court and enforcement Proceedings in the Delhi High Court will be withdrawn accordingly,” a Spice Jet spokesperson said.

Goshawk Aviation Limited is a major lessor of MAX aircraft to SpiceJet. The settlement with Goshawk follows SpiceJet’s successful settlements with De Havilland Aircraft of Canada Limited, Credit Suisse, Boeing, CDB Aviation, BOC Aviation and Avolon.

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Previously, SpiceJet reached a full and final settlement with the Airports Authority of India (AAI) and settled all major outstanding debts of the airport operator. With this, SpiceJet will no longer remain on “cash and carry” at AAI-operated airports across the country and will revert to the prepayment mechanism for daily flight operations.

SpiceJet’s domestic network spans the length and breadth of the country with the airline operating to 51 domestic destinations. A pioneer of the regional connectivity scheme, SpiceJet is the largest regional player in the country helping to connect the most remote parts of the country by air.

The airline’s focus on providing direct air connectivity to regional hubs not only ensures better connectivity but also has a cascading effect on tourism and economic activity in the region. SpiceJet has added several UDAN destinations to the country’s aviation map including Pakyong, Jharsuguda, Kandla, Darbhanga, Kanpur, Ajmer (Kishangarh) among others.

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