Budget carrier SpiceJet on Wednesday said it has signed an initial pact with New York-based global investment firm Avenue Capital Group for financing, acquisition and sales & lease-back of up to 50 new aircraft to be ordered by the airline.
The memorandum of understanding, signed between the two partners, sets out the next steps and conditions upon which Avenue will assist with placing of SpiceJet’s new aircraft portfolio including sale and lease-back of and also the assumption of ownership of potentially up to 50 of these aircraft, the company said in a statement.
Founded in 1995 by Marc Lasry, the multinational firm is a pioneer in distressed debt besides having expertise in aircraft leasing.
