Shares of budget-carrier SpiceJet zoomed 4.4 per cent to Rs 70.4 apiece on the BSE in Monday’s intraday trade after the airline told the National Company Law Tribunal (NCLT) that their dispute with aircraft lessor Celestial Aviation is “practically settled” and only formalities remain.
At 12:35 PM, shares of Ajay Singh-owned airline were trading 2 per cent higher at Rs 68.86 per share as against 0.5 per cent dip in the benchmark S&P BSE Sensex. Sharea of peer firm InterGlobe Aviation, meanwhile, were down 1 per cent.
With this, aircraft lessor Celestial Aviation, that had demanded unpaid dues of $30 million, is expected to withdraw its insolvency plea against the carrier. Celestial, however, told the NCLT that while they have received payments, SpiceJet had missed certain agreed upon payment deadlines.
