SpiceJet is getting a Q400 plane from Nordic Aviation Capital (NAC) because they made a deal last year. This deal means SpiceJet now owns six Q400 planes, including five they already had from NAC. This deal saves SpiceJet money because they don’t have to pay monthly rent for these planes anymore.
The sixth Q400 plane is coming from Germany to India and will be in Delhi soon. Its arrival is good timing for SpiceJet because it’s close to the busy summer travel season, which means they can offer better service to passengers.
Recently, SpiceJet made deals with aircraft lessors that saved them a lot of money. One of these deals was with Export Development Canada (EDC), where SpiceJet got full ownership of 13 Q400 planes they had financed with EDC. This saved SpiceJet around $91 million, which is about Rs 567 crore.
Earlier, SpiceJet also made deals with Cross Ocean Partners and AerCap, two aircraft leasing companies, which saved them more money. These deals together saved SpiceJet about Rs 685 Crore. As part of these agreements, SpiceJet also got three Boeing.
SpiceJet said that they fixed a disagreement with a company called Echelon Ireland Madison One Ltd, and it cost them Rs 413 crore. This is the third time SpiceJet has settled a disagreement like this in less than two weeks. This deal not only solves the money problem but also saves SpiceJet a lot of money. They said they will save 48 million US dollars, which is about 398 crore rupees, because of this agreement.
