SpiceJet has settled its $16.7 million dispute with Engine Lease Finance Corporation for an undisclosed lower amount. The airline raised Rs. 3000 crore through a highly successful Qualified Institutional Placement,

SpiceJet has resolved its dispute with Engine Lease Finance Corporation by reaching a financial settlement. This comes after the airline raised ₹3,000 crore through a Qualified Institutional Placement.

Spicejet's settlement with Engine Lease Finance Corporation comes amid the airline's wider initiatives to streamline operations for future growth

Ajay Singh, Chairman and Managing Director of SpiceJet, said, the mutually beneficial settlement with ELFC not only resolves past issues but also strengthens its position as it embarks on the next phase of growth and expansion.

SpiceJet has resolved its dispute with Engine Lease Finance Corporation (ELFC) through a settlement. ELFC had initially claimed $16.7 million, but agreed to settle for an undisclosed, lower amount. This agreement allows SpiceJet to withdraw all ongoing litigation and focus on future growth,

The settlement follows SpiceJet’s successful Rs 3,000 crore fundraise through a Qualified Institutional Placement (QIP).

The representatives of both parties will now formalise the settlement agreement, with a view to withdrawing all ongoing litigation and ending disputes between them.

Representatives from both SpiceJet and ELFC are set to formalise the agreement, effectively ending all legal proceedings between the two