SpiceJet reaches settlement with plane lessor, will get two extra Boeing 737 Max planes

Domestic airline SpiceJet Tuesday mentioned it had reached a settlement with plane lessor Goshawk Aviation Limited, following which two Boeing 737 Max plane might be added to its fleet.

According to an official assertion, the settlement was reached with Goshawk Aviation Limited and its affiliated leasing entities Wilmington Trust SP Services (Dublin) Limited, Sabarmati Aviation Leasing Limited and Falgu Aviation Leasing Limited associated to 2 Boeing 737 MAX plane and one Boeing 737-800 NG plane.

“The parties have agreed to settle all their disputes under and related to the aircraft lease agreements for three aircraft,” the assertion mentioned.

Goshawk is among the principal lessors of MAX plane of SpiceJet. The dispute between SpiceJet and Goshawk was associated to pending dues with SpiceJet, for which Gishawk approached Delhi High Court final yr.

“The agreement, the terms of which are confidential, ends all litigation proceedings between the parties. All proceedings, including before the UK Court and Execution Proceedings before the Delhi High Court will be withdrawn accordingly,” SpiceJet mentioned.

Earlier this month, SpiceJet mentioned it has entered into an settlement with the Airports Authority of India (AAI) and cleared all excellent principal dues of the airport operator.

“With this, SpiceJet will no longer remain on ‘cash and carry’ at AAI-run airports across the country and will revert to advance payment mechanism for daily flight operations,” the airline’s mentioned.

Last month, aviation regulator Directorate General of Civil Aviation (DGCA) ordered SpiceJet to function solely 50 per cent of its flights for eight weeks to make sure the airline sustains its “efforts for safe and reliable air transport service”.

The order got here in opposition to the backdrop of a spate of safety-related incidents reported on its planes.

According to a report from information company PTI, SpiceJet has been making losses for the final 4 years. It incurred internet losses of Rs 316 crore, Rs 934 crore and Rs 998 crore in 2018-19, 2019-20 and 2020-21, respectively.

In the April-December interval of 2021, the airline posted a internet lack of Rs 1,248 crore.