SpiceJet secures lease agreements for 10 aircraft to bolster summer capacity

livemint.com:

SpiceJet's commitment to providing seamless connectivity and enhanced services to its passengers during peak travel seasons. The additional aircraft will enable the airline to meet the growing demand for air travel, particularly during the busy summer months," as per the release. On March 7, SpiceJet announced the successful resolution of a ₹413 crore dispute with Echelon Ireland Madison One, resulting in savings of ₹398 crore and the acquisition of two airframes, as per the statement.

Additionally, SpiceJet resolved a ₹93 crore dispute with aircraft leasing firm Cross Ocean Partners, securing the transfer of an airframe and an engine to the airline. SpiceJet and Celestial Aviation, a subsidiary of AerCap, have also mutually settled their ₹250 crore dispute, resulting in savings of ₹235 crore for SpiceJet, as per the release. Two senior executives at SpiceJet have resigned, months after an airline company under the names of their spouses came to light, sources told Mint, dealing a fresh blow to the troubled low-cost carrier.

Chief Operating Officer Arun Kashyap, and Chief Commercial Officer Shilpa Bhatia, have stepped down from their roles within the airline. In October 2023, social media was abuzz with news of the new company – Sirius India Airlines – floated by the spouses of Kashyap and Bhatia. "They were asked to resign.

It was unacceptable that the top executives of an airline were entering the same business via their spouses. Arun Kashyap submitted his resignation a month ago. It has also been some time since Shilpa Bhatia put in her papers," one of the sources said.