SpiceJet's Smooth Landing with Genesis: A $16M Dispute Resolution

SpiceJet has resolved a $16 million dispute with aircraft lessor Genesis. The agreement includes a $4 million equity acquisition by Genesis and a $6 million payment by the airline. This settlement is part of SpiceJet's broader strategy to resolve financial disputes while boosting investor confidence.

SpiceJet announced on Thursday that it had reached a resolution with aircraft lessor Genesis, involving the acquisition of a $4 million stake by Genesis in the airline.

This agreement will see SpiceJet pay an additional $6 million to Genesis, helping to settle an over $16 million dispute.

The settlement reflects SpiceJet's ongoing efforts to resolve financial disputes with lessors and strengthen its financial standing following recent fund-raising efforts.

(With inputs from agencies.)