Engine lessor and SpiceJet arrive at $2 million interim settlement: Report
The Delhi High Court (HC) was notified on Monday that an interim settlement had been reached between Engine Lease Finance BV and low-cost airline SpiceJet, reported Moneycontrol.
The engine lessor has agreed not to pursue the stay application against SpiceJet for the time being, said the report.
According to the terms of the settlement, SpiceJet must pay over $2 million to Engine Lease Finance by January. SpiceJet has also committed to returning the engine, which is the bone of contention by January 25. However, the Engine lessor will not revoke the termination and is free to take SpiceJet to court if these undertakings are not met.
