Team Blitz India
NEW DELHI: SpiceJet on March 5 said that it has settled Rs 93-crore dispute with one of its aircraft lessor Cross Ocean Partners. SpiceJet said that as part of the arrangement, the airline will also benefit from transfer of airframe and an engine at no additional cost, augmenting its operational capabilities.
The carrier last week said that it has mutually settled a Rs 250 crore dispute with another lessor Celestial Aviation.
“The parties made this joint announcement before the Delhi High Court in the ongoing execution petition being pursued by Cross Ocean Partners. The settlement is expected to result in significant savings for SpiceJet and also put an end to dispute,” the airline said.
Ajay Singh, Chairman & MD of SpiceJet said that the settlement reinforces the company’s commitment to effectively settle with its partners and strengthen our operational capabilities.
