SpiceJet & lessors settle disputes related to aircraft lease agreements

Budget airline SpiceJet has entered into a settlement agreement with aircraft lessor Goshawk Aviation and its affiliated leasing entities related to two Boeing 737 MAX aircraft and one Boeing 737-800 NG aircraft, it informed the exchanges on Monday.

"The parties have agreed to settle all their disputes under and related to the aircraft lease agreements for 3 aircraft. The agreement, the terms of which are confidential, ends all litigation proceedings between the parties," it said in a press release.

All the proceedings, including before the UK Court and Execution Proceedings before the Delhi High Court will now be withdrawn.

This will allow the entry into service of two more fuel-efficient Boeing 737 MAX aircraft into the company's fleet, it said.