SpiceJet inks pact with Credit Suisse on $24-million dispute

In a separate case, top court asks airline to settle share-purchase dispute with Marans by Apr 12

SpiceJet has entered into an in-principle settlement with Credit Suisse, saving itself from possible liquidation.

“The parties have now reached an in-principle commercial settlement of the dispute and the process of documentation is underway. SpiceJet has already deposited $5 million on the direction of the Madras High Court in the Credit Suisse case and there is no adverse financial liability on the company. The settlement involves payment of an amount over a mutually-agreed period of time,” the airline said in a statement on Thursday.

Last December, the high court had ordered the winding up of SpiceJet for failing to make payment of