SpiceJet to settle $91 million liabilities | India News – Newz9

NEW DELHI: SpiceJet has reached a settlement with Export Development Canada to resolve liabilities valued at $91 million (Rs 755 crore), the airline stated in a submitting on Tuesday. The liabilities stem from a mortgage acquired by the airline in 2011 for procuring 15 plane. As a part of the settlement, SpiceJet can pay a settlement quantity and purchase possession of 13 EDC-financed Q400 plane.With 12 of those Q400s at the moment grounded, their return to service “will enable SpiceJet to promptly launch flights on numerous routes.” TNN