Spicejet reaches out of court settlement with Irish lessor

NEW DELHI: Budget carrier SpiceJetBSE 0.46 % today said it has reached an out of court settlement with an aircraft lessor over default on aircraft rentals.

"SpiceJet Limited has today (March 23, 215) entered into settlement agreement with its lessor Wilmington Trust SP Services (Dublin) Ltd with regard to aircraft operated by company," SpiceJet said in a regulatory filing today.

Under the said settlement agreement, the lessor has agreed to withdraw the said court proceedings and deregisteration process of aircraft subject to SpiceJet satisfying the terms of settlement, it said.

Meanwhile, the airline today moved Delhi High Court against its recent order directing DGCA to de-register six Boeing 737 aircraft given on lease to the low cost carrier by some Irish firms, including Wilmington Trust SP Services (Dublin) Ltd.

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