SpiceJet settles $24-mn financial dispute with Credit Suisse
SpiceJet on Thursday said it has settled its commercial dispute worth around USD 24 million with Swiss financial services company Credit Suisse, with the low-cost airline agreeing to pay the settlement amount over a mutually agreed period of time.
“With regard to the dispute pending between Credit Suisse and SpiceJet Limited, we would like to inform that the parties have now reached an in-principle commercial settlement of the dispute and the process of documentation is underway,” SpiceJet said in a statement.
Credit Suisse had filed a case in the Madras High Court alleging that SpiceJet failed to honour its commitment to pay the bills for over USD 24 million raised by it towards maintenance, repairing, and overhauling of the aircraft engines and components.
