Latest News | Aircraft Lessor Aircastle Withdraws Insolvency Case Against Airline: SpiceJet

New Delhi, Nov 28 (PTI) SpiceJet on Thursday said aircraft lessor Aircastle has withdrawn the insolvency case against the airline following a "mutually agreed upon settlement".

Last month, SpiceJet announced the resolution of a USD 23.39 million dispute with Aircastle (Ireland) Designated Activity Company and Wilmington Trust SP Services (Dublin) Ltd.

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"Aircastle (Ireland) Designated Activity Company has withdrawn its insolvency case against SpiceJet before the National Company Law Tribunal (NCLT). This follows a mutually agreed-upon settlement, marking a positive turn in the airline's efforts to rebuild and strengthen ties with its partners," the airline said in a statement.

The settlement was reached for an aggregate sum of USD 5 million, alongside an agreement on the treatment of certain aircraft engines, it added.

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