SpiceJet flies high on entering into settlement agreement with aircraft lessor Goshawk Aviation

SpiceJet is currently trading at Rs. 47.90, up by 1.25 points or 2.68% from its previous closing of Rs. 46.65 on the BSE.

The scrip opened at Rs. 46.50 and has touched a high and low of Rs. 49.30 and Rs. 46.15 respectively. So far 387578 shares were traded on the counter.

spicejet to start daily non stop flight on mumbai jeddah sector from july 5

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 87.25 on 24-Nov-2021 and a 52 week low of Rs. 34.60 on 28-Jul-2022.

Last one week high and low of the scrip stood at Rs. 49.30 and Rs. 45.70 respectively. The current market cap of the company is Rs. 2795.35 crore.

The promoters holding in the company stood at 59.40%, while Institutions and Non-Institutions held 1.22% and 39.38% respectively.

SpiceJet has entered into settlement agreement with aircraft lessor Goshawk Aviation and its affiliated leasing entities namely Wilmington Trust SP Services (Dublin), Sabarmati Aviation Leasing and Falgu Aviation Leasing related to two Boeing 737 MAX aircraft and one Boeing 737-800 NG aircraft.

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.

All proceedings, including before the UK Court and Execution Proceedings before the Delhi High Court will be withdrawn accordingly.

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

SpiceJet is among the first private companies that stepped into the Indian aviation sector.

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