SpiceJet has reached a settlement with Export Development Canada (EDC) to resolve liabilities worth Rs 755 crore. This agreement will allow SpiceJet to clear major liabilities and is expected to result in savings of Rs 567 crore1. As part of the settlement, SpiceJet will acquire full ownership of 13 EDC-financed Q400 aircraft2. This move is seen as a significant step in SpiceJet’s financial restructuring efforts and is likely to bolster the airline’s operational capabilities and fleet management3. Following this announcement, SpiceJet’s stock price saw an increase4.
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SpiceJet Settlement of 755CR with EDC
SpiceJet Settlement of 755CR with EDC
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