Settlement with CAP to help secure $89.5 mn liquidity: Spicejet
Domestic carrier SpiceJet on Thursday said its settlement with global aircraft leasing and financing firm Carlyle Aviation Partners (CAP) for the restructuring of the airline’s certain lease dues to the tune of USD 121.18 million will help it secure USD 89.5 million liquidity and support its ongoing restructuring efforts.
The settlement agreement with CAP also provides for a mechanism under which, in the event lessors realise proceeds above USD 50-million from the sale of the issued shares, a portion of such excess will be applied to offset future lease obligations, the airline said.
