SpiceJet clears AAI dues, out of ‘cash & carry’ arrangement

SpiceJet announced on Tuesday that it has cleared all outstanding principal dues of Airports Authority of India (AAI), entering into a full and final settlement with the state-run airport operator.

The low-cost carrier is now out of the ‘cash and carry’ arrangement at AAI-run airports and will revert to an advance payment mechanism for its daily flight operations. AAI will also release SpiceJet’s Rs 50 crore bank guarantee.