India's SpiceJet settles with lessors for Boeing aircraft

BENGALURU, Aug 16 (Reuters) - Indian low-cost carrier SpiceJet Ltd (SPJT.NS) said on Tuesday it has entered into a settlement agreement with aircraft lessor Goshawk Aviation Ltd and its affiliates related to three Boeing aircraft.

The airline said that the agreement - the terms of which are confidential - ends all litigation proceedings between the parties, adding that this will allow SpiceJet to add two more fuel-efficient Boeing 737 MAX aircraft and one Boeing 737-800 NG aircraft to its fleet.

Recently, SpiceJet has been in trouble with its lessors, Ireland-based Alterna Aircraft Ltd and United Arab Emirates aeronautics firm AWAS, who asked the Indian aviation regulator to de-register their planes. read more

Last week, Reuters reported lenders IDFC First Bank (IDFB.NS), Yes Bank (YESB.NS) and Indian Bank (INBA.NS), had put their loans to the airline in the high-risk category. read more

SpiceJet, however, had rejected the claims.

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Reporting by Nishit Navin in Bengaluru; Editing by Neha Arora

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