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.
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.
Recently, the airline s three lessors Wilmington Trust SP Services, Sabarmati Aviation Leasing and Falgu Aviation Leasing had sought deregistration of one aircraft each, according to an update on the regulator s website.
An old, retired aircraft fitted with a revolutionary hydrogen-electric propulsion system is the perfect symbol of a dawning era in commercial aviation. O.