SpiceJet and Engine Lease Finance BV have reached an interim settlement, averting an immediate legal showdown. The Delhi High Court granted an adjournment until February 8, 2024, after both parties agreed to terms. As part of the settlement, SpiceJet is obligated to pay over $2 million to Engine Lease Finance by January 2023 and return the leased engine by January 25. Failure to adhere to these conditions empowers the lessor to resume legal action. The case revolves around SpiceJet’s use of a leased engine amid financial challenges, reflecting one of several legal battles the airline is navigating.
SpiceJet and Lessor Reach Interim Settlement in Delhi High Court
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