Low-cost airline SpiceJet’s shares rose in early trade on Thursday after aircraft lessor Aircastle withdrew its insolvency case against the airline. This development followed a mutually agreed settlement between the two parties. SpiceJet announced the news in a press release, marking a step forward in its efforts to strengthen relationships with its partners.
Following the announcement, SpiceJet’s shares climbed to Rs 63.40, a nearly 3% increase. By 11:10 AM, the shares were trading at Rs 61.98, up almost 1%. .
In September, SpiceJet announced the resolution of a $23.39 million dispute with Aircastle (Ireland) Designated Activity Company and Wilmington Trust SP Services (Dublin) Limited. The settlement amount was agreed at $5 million,…
