NEW DELHI: In a relief to SpiceJet, one of its biggest lessors, Miami-based Carlyle Aviation Partners, is planning to convert dues of over $100 million into about 5% stake in the low cost carrier. Additionally, Carlyle, which has leased 13 Boeing 737s to the airline, will convert a part of dues into CCDs of SpiceXpress at a future valuation of over $1 billion, said sources.
SpiceJet is also in talks with other creditors to convert dues into equity.
