SpiceJet settles dispute with Willis Lease Finance Corporation, ETCFO
SpiceJet has successfully settled its dispute with Willis Lease Finance Corporation, a leading global aircraft engine lessor. As part of the agreement, Willis Lease has withdrawn its insolvency case against the low-cost carrier.
This settlement follows a series of agreements SpiceJet has secured in recent months, supported by an Rs 3,000 crore infusion through a Qualified Institutional Placement (QIP) in September 2024 and an additional Rs 294.09 crore infusion by promoter Ajay Singh.
“This successful settlement with Willis Lease reflects the positive impact of our financial restructuring strategy. The QIP and the subsequent promoter funding have strengthened our ability to resolve long-standing disputes, enhance financial stability, and drive operational growth. We deeply appreciate the continued support of our partners and stakeholders as we work towards building a stronger and more resilient SpiceJet,” said Ajay Singh, Chairman and Managing Director, SpiceJet.
The shares of SpiceJet were trading with gains of 1.49% per cent as of 12:00 pm, while the benchmark indices were up roughly 0.45 per cent.
