SpiceJet Settles Dispute With Willis Lease Finance, Fortifying Financial Stability
Published on Mar 27, 2025 at 12:16 PM IST
Settlement Overview
SpiceJet has reached a favorable settlement with Willis Lease Finance Corporation, a prominent global lessor of aircraft engines. This resolution comes as part of SpiceJet’s broader strategy to strengthen its financial foundation, effectively ending Willis Lease’s insolvency proceedings against the airline.
Recent Financial Infusions
This settlement follows a series of strategic financial maneuvers by SpiceJet, including a ₹3,000 Crore infusion through a Qualified Institutional Placement (QIP) in September 2024. An additional funding of ₹294.09 Crore by the airline’s promoter, Ajay Singh, has further enhanced its financial capabilities. These investments have played a crucial role in resolving outstanding disputes and have positioned SpiceJet for growth.
Statements from Leadership
Ajay Singh, Chairman and Managing Director of SpiceJet, remarked, “This successful settlement with Willis Lease reflects the positive impact of our financial restructuring strategy. The QIP and the subsequent promoter funding have strengthened our ability to resolve long-standing disputes, enhance financial stability, and drive operational growth. We deeply appreciate the continued support of our partners and stakeholders as we work towards building a stronger and more resilient SpiceJet.”
Commitment to Financial Strength
With this latest agreement, SpiceJet underscores its dedication to addressing past liabilities and improving its balance sheet. The airline’s proactive approach has led to a series of successful settlements, positioning it favorably for sustainable operational and financial success in the future.
