SpiceJet secures $89.5 mn in liquidity boost through Carlyle Settlement

SpiceJet on Thursday said it has reached a settlement with Carlyle Aviation Partners, unlocking a total of $89.5 million to strengthen its financial position. As part of the agreement, the airline will receive $79.6 million in cash maintenance reserves for future aircraft and engine upkeep. In addition, it will get $9.9 million in cash maintenance credits that can be used to offset lease obligations.

This agreement significantly enhances airline’s liquidity and supports its ongoing restructuring efforts, said SpiceJet in a press release.