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.
India's aviation regulator, the Directorate General of Civil Aviation, has ordered the budget carrier to inspect all its operational Q400 aircraft engines within one week and send all oil samples to Canada every 15 days