low cost carrier SpiceJet on Monday said it has reached an out of court settlement with an aircraft lessor over default on aircraft rentals. “SpiceJet limited has today (March 23, 215) entered into settlement agreement with its lessor Wilmington Trust SP Services (Dublin) ltd with regard to aircraft operated by company,” SpiceJet said in a regulatory filing on Monday. Under the said settlement agreement, the lessor has agreed to withdraw the said court proceedings and deregisteration process of aircraft subject to SpiceJet satisfying the terms of settlement, it said.
Meanwhile, the airline today moved Delhi High Court against its recent order directing DGCA to de-register six Boeing 737 aircraft given on lease to the low cost carrier by some Irish firms, including Wilmington Trust SP Services (Dublin) ltd. A bench of Chief Justice G Rohini and Justice R S Endlaw listed the matter for hearing tomorrow after Additional Solicitor General (ASG) Sanjay Jain told the court that aviation regulator Directorate General of Civil Aviation (DGCA) will take no action till then. Senior advocate Sandeep Sethi, appearing for SpiceJet, said the airline has settled its dispute with Wilmington Trust SP Services (Dublin) ltd and a settlement with AWAS Ireland ltd was on the cards.