SpiceJet settles $4.5 million dispute with Shannon Engine Support
SpiceJet on Friday, October 25, announced the successful settlement of a $4.5 million dispute with Shannon Engine Support Limited (SES), resolving the matter for a total of $2 million. Both parties have reached this agreement through amicable negotiations, choosing to resolve the matter outside the courtroom.
SpiceJet on Friday, October 25, announced the successful settlement of a $4.5 million dispute with Shannon Engine Support Limited (SES), resolving the matter for a total of $2 million. Both parties 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As part of the settlement, all ongoing litigations and disputes between the parties will be withdrawn at the appropriate forums, the airlinesaid in a press release.
This settlement marks the latest in a series of significant financial agreements for SpiceJet. Just days prior, on October 15, the airline settled a $23.39 million dispute with Aircastle (Ireland) Designated Activity Company and Wilmington Trust SP Services (Dublin) Limited for an aggregate sum of $5 million.
Additionally, on October 9, SpiceJet resolved a major $131.85 million dispute with lessors Horizon Aviation 1 Ltd., Horizon II Aviation 3 Ltd., and Horizon III Aviation 2 Ltd. for $22.5 million.
Prior to that, on September 24, the company had settled a dispute with Engine Lease Finance Corporation (ELFC), which initially claimed $16.7 million, for a lower amount.
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