Spicejet to lease 10 aircraft ahead of summer schedule

SpiceJet has finalized lease agreements for 10 aircraft, bolstering its capacity ahead of the upcoming summer schedule. This move highlights SpiceJet’s dedication to providing seamless connectivity and improved services to travelers during peak seasons. With these additional aircraft, the airline aims to meet the surging demand for air travel, especially during the bustling summer months.

Recent settlement agreements have also enhanced SpiceJet’s fleet capabilities, with three airframes received as part of these deals. These agreements with key aircraft lessors have resulted in significant savings of ₹685 Crore for the airline.

• Also read: SpiceJet’s shares rise after resolving $49.8 million dispute with Echelon Ireland Madison One

On March 7, SpiceJet announced the successful resolution of a $49.8 million (₹413 Crore) dispute with Echelon Ireland Madison One Ltd, resulting in savings of $48 million (₹398 Crore) and the acquisition of two airframes. Additionally, SpiceJet resolved an $11.2 million (₹93 Crore) dispute with aircraft leasing firm Cross Ocean Partners, leading to the transfer of an airframe and an engine.

Furthermore, SpiceJet and Celestial Aviation, a subsidiary of AerCap, reached a mutual settlement on their $29.9 million (₹250 crore) dispute, resulting in savings of ₹235 crore for SpiceJet.