Shares of SpiceJet Ltd climbed 8 per cent in Wednesday’s trade after the airline said its has achieved amicable settlement of its dispute with three of its the lessors. The dispute, valued in aggregate at $131.85 million or Rs 1,107 crore has been resolved for $22.5 million, SpiceJet said.
The settlement represents one of the largest financial agreements reached by SpiceJet, marking a step towards strengthening the airline’s balance sheet and reducing its overall liabilities, the company said in a BSE filing.
Following the development, the airline operator surged 8.24 per cent to hit a high of Rs 67.98 on BSE. The stock is up 92.14 per cent in the past one year.
“By resolving this major dispute, SpiceJet has cleared a significant hurdle, paving the way for improved financial stability and operational efficiency,” SpiceJet said.
This settlement with Horizon Aviation 1, Horizon II Aviation 3 and Horizon III Aviation 2, which are the lessors under the management of Babcock &…
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