SpiceJet finalises settlement with major lessor of Q400 aircraft; three repossessed aircraft to return back to fleet

SpiceJet has entered into a settlement agreement with Nordic Aviation Capital (NAC), a major lessor for its Q400 aircraft. The agreement settles all past liabilities for the Q400s leased by NAC to SpiceJet. The airline presently operates five Q400 aircraft from NAC in its fleet.

Separately, the airline will be inducting three additional Q400 aircraft from NAC back into its fleet. These three planes had been repossessed by the lessor. The induction of the three planes in addition to the fleet revival and restoration program launched by the airline would result in a substantial addition of planes in the SpiceJet fleet in the coming weeks.