The settlement and consent terms, executed on May 23, have also been filed before the Supreme Court for final orders, the airline said in a statement. The airline said it had already provided a bank guarantee of USD 5 million under the direction of the Madras High Court in the matter and there is no adverse financial liability on the company.
The settlement involves payment of a certain amount upfront and the balance amount over a mutually agreed timeline, SpiceJet said without giving specific details.
The settlement with Credit Suisse follows SpiceJet’s successful settlements and performances therein with De Havilland Aircraft of Canada Limited (DHC), Boeing, CDB Aviation, BOC Aviation and Avolon and provides an impetus to normalisation, growth and expansion of the airline.
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