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India s SpiceJet to own 13 Bombardier Q400 planes after $91 million settlement, shares soar

BENGALURU (Reuters) -Indian budget carrier SpiceJet said on Tuesday it agreed with Export Development Canada (EDC) to settle liabilities worth around $91 million, allowing it to take ownership of 13 of 15 Bombardier Q400 aircraft financed by the Canadian trade finance agency. "This settlement marks the biggest breakthrough in SpiceJet's financial restructuring efforts to date," the airline said in a statement. SpiceJet has over the last few months reached settlements with multiple lessors, including Aercap, the world's largest aircraft lessor, as the company looks to restore its grounded fleet and return to full capacity.

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SpiceJet resolves 755 crore liabilities with Export Development Canada, shares advance 5%

Under the terms of the agreement, SpiceJet will acquire full ownership of 13 EDC-financed Q400 aircraft. The move will bolster the airline's operational capabilities and fleet management.

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SpiceJet claims big breakthrough in financial restructuring with EDC settlement

SpiceJet claims big breakthrough in financial restructuring with EDC settlement
indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.

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SpiceJet to own 13 Bombardier Q400 planes after 1 9 cr settlement, shares soar

UPDATE 2-India's SpiceJet to own 13 Bombardier Q400 planes after $91 mln settlement, shares soar

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India s SpiceJet reaches settlement for $91 million liabilities

BENGALURU (Reuters) -Indian budget carrier SpiceJet said on Tuesday it agreed with Export Development Canada (EDC) to settle liabilities worth around $91 million, allowing it to take ownership of 13 of 15 Bombardier Q400 aircraft financed by the Canadian trade finance agency. "This settlement marks the biggest breakthrough in SpiceJet's financial restructuring efforts to date," the airline said in a statement. SpiceJet has over the last few months reached settlements with multiple lessors, including Aercap, the world's largest aircraft lessor, as the company looks to restore its grounded fleet and return to full capacity.

Savio dsouzaSonia cheemaNandan mandayamDevelopment canadaExport development canadaSaviod souzaExport development canadaOmbardier q400Q400 aircraft

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