SpiceJet settles dispute with Ashlon worth Rs 413 crore
[ad_1]
pattern photo
ANI
Settlement of the legal dispute with Ashlon will result in a saving of $48 million (about Rs 398 crore). Under this dispute settlement, SpiceJet will acquire two airframes. Generally an airframe is an aircraft without an engine.
SpiceJet, which is trying to overcome its difficulties, said on Thursday that it has settled a dispute of Rs 413 crore with aircraft leasing company Ashlon Ireland Madison One Limited. This is the third such dispute in the last two weeks that SpiceJet has settled.
The airline said in a statement that the settlement of the legal dispute with Ashlon will result in savings of $48 million (about Rs 398 crore). Under this dispute settlement, SpiceJet will acquire two airframes. Generally an airframe is an aircraft without an engine.
The airline, which is facing several hurdles and is in the process of raising funds, is acquiring a total of three airframes by settling three disputes. These airframes are of Boeing 737 NG aircraft. SpiceJet said these successful settlements have resulted in total savings of Rs 685 crore for the airline.
Earlier, on March 5, SpiceJet had reached a settlement with Cross Ocean Partners regarding the dispute worth about $11.2 million (Rs 93 crore). Before that, on February 28, SpiceJet had settled a dispute of $29.9 million (Rs 250 crore) with Celestial Aviation.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
other news
[ad_2]
Source link
