Budget carrier SpiceJet on Wednesday said it has signed an initial pact with New York-based Avenue Capital Group to help finance and acquire 50 new planes to be ordered by the airline.
The memorandum of understanding signed between the two partners sets out the next steps and conditions under which Avenue will assist with placing of SpiceJet’s new aircraft portfolio, including sale and leaseback of up to 50 planes.
The airline, however, did not name the type of aircraft it was looking to acquire. Sources said the MoU, apart from covering the present order that the air carrier has, may also include a new order.
