SpiceJet settles with Boeing MAX aircraft lessor CDB Aviation

The low-cost air carrier announced that it has commercially agreed a settlement with CDB Aviation, another major lessor of MAX aircraft.

"This will add to already announced settlement with Avolon, a major lessor of MAX aircraft to grow its fleet of 737 MAX aircraft. The airline expects to start operations of MAX aircraft around the end of September 2021, subject to regulatory approvals," the company said in a statement.

The 737 MAX was grounded worldwide in March 2019 after two fatal crashes in five months killed several people. In August, India's Directorate General of Civil Aviation cleared 737 MAX aircraft to fly with immediate effect, after nearly two-and-a-half years of regulatory grounding.

On 26 August 2021, SpiceJet announced that it entered into a settlement with Avolon, allowing the airline's 737 MAX aircraft to start to return to service. The airline expects to start operations of MAX aircraft around the end of September 2021.

Spicejet's consolidated net losses widened to Rs 731.12 crore in Q1 June 2021 (Q1 FY22), higher than net loss of Rs 600.52 crore in Q1 June 2020 (Q1 FY21). Consolidated net sales surged 121.20% to Rs 1,083.24 crore in Q1 FY22 as against Rs 489.60 crore in Q1 FY21.

SpiceJet is India's low-cost airline that operates a fleet of Boeing 737s, Bombardier Q‐400s & freighters and is the country's largest regional player operating 63 daily flights under UDAN or the Regional Connectivity Scheme.

Shares of Spicejet added 0.36% to Rs 69.90 on BSE.

Powered by Capital Market - Live News