Aircraft lessor Aircastle (Ireland) Designated Activity Company has withdrawn its insolvency case against SpiceJet before the National Company Law Tribunal (NCLT). This follows a mutually agreed-upon settlement, marking a positive turn in the airline’s efforts to rebuild and strengthen ties with its partners.
Last month, 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 was reached for an aggregate sum of $5 million, alongside an agreement on the treatment of certain aircraft engines. Both parties opted for an amicable negotiation process, successfully avoiding prolonged courtroom…
