SpiceJet settles $90.8 million debt with EDC, gaining full ownership of 13 Q400 aircraft.

Indian budget airline SpiceJet has announced a settlement agreement with the Export Development Canada (EDC) to clear a debt of $90.8 million (Rs 755 crore). This agreement will enable SpiceJet to take full ownership of 13 Q400 aircraft financed by EDC, enhancing its operational capacity and fleet management capabilities. This settlement is expected to lead to substantial savings and improvements in SpiceJet's balance sheet.

March 26, 2024
20 Articles