SpiceJet said on Tuesday that it has reached a settlement agreement with aircraft lessor Goshawk Aviation Limited and its affiliates regarding three Boeing aircraft.
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“We are pleased to announce that the Company has entered into a settlement agreement with aircraft lessor Goshawk Aviation Limited and its affiliated leasing entities namely Wilmington Trust SP Services (Dublin) Limited, Sabarmati Aviation Leasing Limited and Falgu Aviation Leasing Limited related to two (2) Boeing 737 MAX aircraft and one (1) Boeing 737-800 NG aircraft,” SpiceJet Limited said in a regulatory filing.
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The airline stated that the parties have consented to settle all issues arising from and relating to the aircraft lease agreements for three aircraft. All legal proceedings between the parties are resolved by the agreement, the details of which are confidential. All cases, including those in front of the UK court and execution cases in front of the Delhi High Court, would be withdrawn as a result.
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Goshawk Aviation Limited is a major lessor of SpiceJet’s MAX aircraft. SpiceJet’s resolution with Goshawk followed successful settlements with De Havilland Aircraft of Canada Limited, Credit Suisse, Boeing, CDB Aviation, BOC Aviation, and Avolon.
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Previously, SpiceJet reached a full and final settlement with the Airports Authority of India (AAI), clearing all outstanding principal dues of the airport operator. SpiceJet will no longer be able to operate on ‘cash and carry’ at AAI-run airports around the country, and would instead rely on advance payment systems for daily flight operations.
SpiceJet’s domestic network spans the whole country, with the airline serving 51 domestic destinations. SpiceJet, the country’s major regional player, is a pioneer of the regional connectivity strategy, connecting the country’s most remote areas via air.