SpiceJet settles $90.8M dispute with EDC for $22.5M, securing ownership of 13 Q400 planes.

Indian airline SpiceJet has settled a $90.8 million dispute with Canadian export credit agency, EDC, paying $22.5 million. This settlement saves SpiceJet $68.3 million and allows it to take full ownership of 13 Q400 aircraft, reducing operational costs and improving financial stability. The airline recently raised Rs 3,000 crore, and the resolution will help put the Q400 planes back into service.

November 14, 2024
9 Articles

Further Reading