Summer is almost here and so are summer vacation plans! Realizing this, SpiceJet has already to deal with the air traffic that will hit during this peak travel season. The airline has recently secured lease agreements for 10 aircraft to bolster its capacity ahead of the upcoming summer season. The acquisition of these additional aircrafts will enable SpiceJet to effectively address the rising demand for air travel.
This strategic move is expected to bring uninterrupted connectivity and improved services to travelers during peak travel periods.
Moreover, SpiceJet has recently added three airframes to its fleet through settlement agreements, further enhancing its operational capabilities. These successful negotiations with major aircraft lessors have not only expanded SpiceJet’s fleet but have also resulted in substantial cost savings amounting to INR 685 Crore for the airline.
More money for SpiceJet
SpiceJet on March 7 also announced that it has resolved a dispute with Echelon Ireland Madison One Ltd for $49.8 million. This settlement translated into significant savings of $48 million for SpiceJet, alongside the acquisition of two airframes.
In addition, the airline also resolved a dispute of $11.2 million (INR 93 Crore) with aircraft leasing firm Cross Ocean Partners, leading to the transfer of an airframe and an engine to the airline.
Furthermore, SpiceJet reached a mutual settlement with Celestial Aviation, a subsidiary of AerCap, for their $29.9 million (INR 250 Crore) dispute, resulting in savings of INR 235 Crore for SpiceJet.