SpiceJet Reaches Settlement to Resolve $90.8 Million (INR 755 Crore) Liabilities

Key Highlights

• SpiceJet and EDC reach settlement to resolve $90.8 million liabilities
• SpiceJet acquires full ownership of 13 Q400 planes
• Agreement lays groundwork for a fortified balance sheet and savings for SpiceJet
• Settlement stems from a 2011 aircraft procurement loan
• Returning grounded Q400s to service will enable regional and UDAN route expansion