Highlight
- Goshack Aviation Limited is one of the main lessees of SpiceJet’s Max aircraft.
- The parties have agreed to settle their disputes under and in connection with the Aircraft Lease Agreements
- The settlement ends all litigation proceedings between the parties.
SpiceJet on Tuesday entered into an agreement with aircraft lessor Goshak Aviation Limited and its affiliated leasing entities Wilmington Trust SP Services (Dublin) Limited, Sabarmati Aviation Leasing Limited and Falgu Aviation Leasing Limited belonging to two Boeing 737 MAX aircraft and one Boeing 737-800 NG. announced the agreement. airplane.
Goshak Aviation Limited is one of the main lessees of SpiceJet’s Max aircraft.
The agreement with Goshack follows SpiceJet’s successful settlements with Canada Limited’s De Havilland Aircraft, Credit Suisse, Boeing, CDB Aviation, BOC Aviation and Avalon.
The agreement, the airline said, will allow the entry of two more fuel-efficient Boeing 737 MAX aircraft into the SpiceJet fleet.
A statement said, “The parties have agreed to settle all their disputes under and relating to the Aircraft Lease Agreement for the three aircraft. The agreement, the terms of which are confidential, ends all litigation proceedings between the parties.” Huh.”
All proceedings, including execution proceedings before the UK Court and before the Delhi High Court, will be withdrawn accordingly, the statement said.
Separately, SpiceJet promoter Ajay Singh is reportedly looking at the possibility of a partial stake sale in the airline. Singh currently holds a 60 per cent majority in the airline, he said, adding that the company is in discussions with various investors to secure financing.
A SpiceJet spokesperson had recently said, “The company is in talks with various investors to secure sustainable funding and will make appropriate disclosures as per applicable norms.”
In addition, the low-cost carrier recently entered into a full and final agreement with the Airports Authority of India (AAI) to pay all outstanding principal dues to the airport operator.
SpiceJet’s ability to clear dues reflects the airline’s improved cash flow in recent times.
However, SpiceJet has been going through a very turbulent period in the recent past due to several glitches and non-compliance of mandatory guidelines regarding training of some pilots.
It all started in April 2022 when the Directorate General of Aviation Monitoring (DGCA) barred 90 pilots of the airline from operating Boeing 737 MAX aircraft because they were not properly trained.
Those pilots were trained on a faulty simulator, and the aviation regulator asked the airline to retrain the pilots, in addition to a fine of Rs 10 lakh.
Several incidents were reported this year when aircraft of SpiceJet and other carriers either returned to their origin stations or continued to land at destinations with poor safety margins.
Civil aviation regulator DGCA recently ordered SpiceJet to operate a maximum of 50 per cent of its flights for eight weeks following technical glitches in several of its aircraft.
On repeated reports of malfunctions, Director General of the Directorate General of Civil Aviation Regulatory (DGCA) Arun Kumar recently said that the aircraft systems are quite robust and have many redundancies but component failures do not mean that it is detrimental to the safety of passengers. Compromising.
(with inputs from ANI)
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