SpiceJet settles $23.39 mn dispute with Aircastle, Wilmington Trust

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SpiceJet settles $23.39 mn dispute with Aircastle, Wilmington Trust - Business Standard

Quick Summary:

SpiceJet has "successfully settled" a USD 23.39-million dispute with Aircastle (Ireland) Designated Activity Company and Wilmington Trust SP Services (Dublin) Ltd for an aggregate sum of USD 5-million, together with agreement in relation to the treatment of certain aircraft engines, the statement added.

Budget carrier SpiceJet on Tuesday said it has successfully settled a USD 23.39 million dispute with two aircraft lessors -- Aircastle and Wilmington Trust, days after amicably resolving a similar dispute with a US-based aircraft leasing firm, BBAM.

As part of the settlement, all ongoing litigation and disputes between the parties will be withdrawn at appropriate forums, the airline said in a statement.