New Delhi: In a relief for SpiceJet, Ireland-based aircraft lessor Aircastle has withdrawn its insolvency case against the budget airline after reaching a $5.6 million settlement.
Both parties informed the National Company Law Tribunal (NCLT) in Delhi about the settlement on Wednesday, after which the tribunal approved the withdrawal of the case.
This marks another instance of the airline settling its disputes with creditors after raising ₹3,000 crore through a qualified institutional placement (QIP).
In October, the airline had announced the resolution of a $23.39 million dispute with Aircastle (Ireland) Designated Activity Co. and Wilmington Trust SP Services (Dublin) Ltd. The matter was settled for $5 million, along with an…
