Aircraft lessor rejects SpiceJet’s offer to issue shares against dues

Aircraft lessor Aircastle (Ireland) Ltd has rejected SpiceJet’s offer to allocate shares in lieu of its dues, ET has learnt, even as the cash-strapped budget airline maintained it expects to reach settlements with lessors including Aircastle.

SpiceJet had reached out to multiple lessors – some of which have approached the National Company Law Tribunal (NCLT) to initiate insolvency proceedings against the airline – offering equity against the dues it owes them.