SpiceJet withdraws plea from HC against Irish lessor

SpiceJet today withdrew from the Delhi High Court one of its pleas seeking orders to DGCA not to de-register its three Boeing 737 aircraft leased from an Irish firm, saying it has arrived at a settlement with the foreign entity.
SpiceJet told a bench of Chief Justice G Rohini and Justice R S Endlaw that it has arrived at a settlement with Wilmington Trust SP Services (Dublin) Ltd and withdrew the petition filed against the Irish firm.
The second petition, which involves three Boeing 737 aircraft leased from another Irish firm, AWAS Ireland Ltd, was listed by the court for hearing on May 1 after the low-cost airline said it is in the process of settling the payment due to the foreign entity.

SpiceJet had filed the two petitions challenging a March 19 order of a single-judge of the High Court directing Directorate General of Civil Aviation (DGCA) to de-register the six Boeing 737 planes leased from the two Irish firms.
The order was passed on the pleas of the Irish firms which had said their lease with SpiceJet had been terminated due to alleged default in payment of lease rental by the airline.
Challenging the order, the airline, in its pleas, has said de-registration of its aircraft "shall result in completely closing down of operations of SpiceJet" as a result of which the whole turnaround plan in terms of the scheme for revival and reconstruction of the carrier would "collapse".

It has said the Scheme of Reconstruction and Revival for Takeover of Ownership, Management and Control of the airline would collapse "as no investor would be investing money in an airline which was without aircraft and operations".
SpiceJet, which currently has 32 aircraft in its fleet, had said de-registration of its aircraft would also mean that it would not be able to fly them which in turn would affect the people who have booked tickets months in advance.