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GURUGRAM, September 10, 2024: Significant Debt Relief: As part of the settlement agreement, Carlyle Aviation will write off $40.17 million in lease arrears.
Carlyle Aviation Converts Debt into Equity: Carlyle Aviation will convert $30 million in lease arrears into SpiceJet equity at INR 100 per share, significantly increasing its stake in the airline.
Strategic Investment in SpiceXpress: Carlyle Aviation will convert $20 million in lease arrears into compulsorily convertible debentures (CCDs) of SpiceXpress & Logistics Private Limited.
Strengthened Partnership: This strategic partnership between SpiceJet and Carlyle Aviation will bolster SpiceJet's financial position, accelerate its growth plans, and enhance its ability to compete in the Indian aviation market.
About SpiceJet:
SpiceJet is India's favourite airline that has made flying affordable for more Indians than ever before. SpiceJet is an IATA-IOSA certified airline that operates a fleet of Boeing 737s & Q-400s and is one of the country's largest regional players operating multiple daily flights under UDAN or the Regional Connectivity Scheme. The majority of the airline's fleet offers SpiceMax, the most spacious economy class seating in India.
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