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Both parties — SpiceJet and Shanon Engine Support — have reached this agreement through amicable negotiations, choosing to resolve the matter outside the courtroom.
As part of the settlement, all ongoing litigations and disputes between the parties will be withdrawn at the appropriate forums, says Spicejet.
Domestic carrier SpiceJet on Friday announced it has settled a USD 4.5 million dispute with Shannon Engine Support Ltd (SES) for an aggregate sum of USD 2 million. This settlement with SES follows three other financial agreements by the airline in recent weeks, SpiceJet said in a statement.
Both parties — SpiceJet and Shanon Engine Support — have reached this agreement through amicable negotiations, choosing to resolve the matter outside the courtroom, the airline said.
As part of the settlement, all ongoing litigations and disputes between the parties will be withdrawn at the appropriate forums, it added.
On October 15, SpiceJet had announced amicably settling a US 23.39 million dispute with Aircastle (Ireland) Designated Activity Company and Wilmington Trust SP Services (Dublin) Ltd for an aggregate sum of USD 5 million.
On October 9, the airline said it has resolved a USD 131.85 million dispute with lessors Horizon Aviation 1 Ltd, Horizon II Aviation 3 Ltd, and Horizon III Aviation 2 Ltd (under the management of Babcock & Brown Aircraft Management) for USD 22.5 million.
Prior to that, on September 24, the company had settled a dispute with Engine Lease Finance Corporation (ELFC), which initially claimed USD 16.7 million, for a lower amount.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)
