SpiceJet on Thursday announced that aircraft lessor Aircastle (Ireland) Designated Activity Company has withdrawn its insolvency case against the airline before the National Company Law Tribunal (NCLT), after reaching a $5.6 million settlement. This comes as a major relief for SpiceJet. The development follows a mutually agreed-upon settlement, marking a positive turn in the airline’s efforts to rebuild and strengthen ties with its partners, SpiceJet said in a statement.
Earlier last month, SpiceJet had 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,…
