The SpiceJet airline has entered into a settlement agreement with Nordic Aviation Capital (NAC), a major lessor for its Q400 aircraft, the spokesperson said on Wednesday.
“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,” the airline claimed.
The SpiceJet spokesperson said that separately, the airline will be inducting three additional Q400 aircraft from NAC back into its fleet.
SpiceJet is an Indian budget airline headquartered in Gurgaon, Haryana. It is the second largest airline in India by number of domestic passengers carried, with a market share of 5.8% as of April 2023.
SpiceJet is India’s most preferred low-cost airline, connecting the remotest corners of the country. We operate the maximum number of UDAN flights in India, addressing.Our vision to make flying affordable and approachable for Indians. In fact, we have single handedly changed the air travel industry in India and there is no stopping at that.
“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,” said the spokesperson.
In May, Lessors had requested the Directorate General of Civil Aviation (DGCA) to deregister. One aircraft each from Wilmington Trust SP Services, Sabarmati Aviation Leasing, and Falgu Aviation Leasing with the airline.
