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SpiceJet settles dispute of over $16 million with Genesis
The Daily Guardian
|December 20, 2024
Airline SpiceJet has settled a dispute of over USD 16 million with Dublin-headquartered Genesis Aircraft Services, a commercial aircraft leasing company, the company stated on Thursday.
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Under the agreement, SpiceJet will pay Genesis USD 6 million and Genesis will acquire USD 4 million in SpiceJet equity at a price of Rs 100 per share, the company added. The agreement will also result in a significant saving for the airline as it navigates a robust path toward long-term growth.
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