Budget carrier SpiceJet has signed an agreement with aircraft leasing firm BBAM to settle out of court the dispute over aircraft rentals. “SpiceJet has entered into an in-principle understanding with its five lessors managed by BBAM Aircraft Leasing and Finance with regard to five aircraft operated by the company,” SpiceJet said in a regulatory filing on Wednesday. Under the understanding, the lessors have agreed to suspend court proceedings, including winding these up, and the de-registration process of aircraft, subject to SpiceJet satisfying the terms of settlement and parties executing definitive agreements, the airline said. [related-post] SpiceJet was dragged to court by several aircraft leasing firms including BBAM after it had failed to pay rentals for some of its Boeing 737 aircraft due to financial crunch last year. A single judge bench of the high court had on March 19 directed the DGCA to de-register six Boeing 737 aircraft given to the carrier.
