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GURUGRAM, October 25, 2024: SpiceJet is pleased to announce that it has successfully settled a $4.5 million dispute with Shannon Engine Support Limited (SES) for an aggregate sum of $2 million.
Both parties have reached this agreement through amicable negotiations, choosing to resolve the matter outside the courtroom. As part of the settlement, all ongoing litigations and disputes between the parties will be withdrawn at the appropriate forums.
This settlement follows three other significant financial agreements by SpiceJet in recent weeks. On October 15, SpiceJet announced it had successfully settled a $23.39 million dispute with Aircastle (Ireland) Designated Activity Company and Wilmington Trust SP Services (Dublin) Limited for an aggregate sum of $5 million.
On October 9, the airline successfully resolved a $131.85 million dispute with lessors Horizon Aviation 1 Ltd., Horizon II Aviation 3 Ltd., and Horizon III Aviation 2 Ltd. (under the management of Babcock & Brown Aircraft Management) for $22.5 million. Prior to that, on September 24, the company had settled a dispute with Engine Lease Finance Corporation (ELFC), which initially claimed $16.7 million, for a lower amount”.
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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