SpiceJet settlement with Aviator ML ends petition, NCLT fines both
Business
SpiceJet just caught a break: Aviator ML, one of its aircraft lessors, has withdrawn an insolvency petition after settling things with the airline.
The catch? Both sides were fined by the NCLT for waiting until the very last minute to reveal their deal.
The fine amount hasn't been made public.
SpiceJet commits to resolving 7 cases
While this settlement takes some pressure off, seven more insolvency cases from other lessors are still hanging over SpiceJet.
The airline says it's committed to sorting things out with everyone and is working on getting its operations back on track, even as it deals with ongoing financial struggles and creditor disputes.