Wednesday, March 31, 2021

SpiceJet signs deal for acquiring up to 50 more aircraft

New Delhi: SpiceJet has signed a MoU with New York-based Avenue Capital Group for the financing, acquisition and sale-and-lease-back (SLB) of 50 new planes to be ordered by the airline. SpiceJet says Avenue will assist it in placing new aircraft portfolio including SLB and also assuming ownership of up to 50 aircraft.

SpiceJet CMD Ajay Singh said: “We are delighted to enter into this strategic alliance with Avenue Capital Group and we look forward to closely working with them. This alliance will ensure a seamless induction of the planes in our fleet and help us plan better for the long term.”

The low cost carrier had ordered up to 205 Boeing 737 Max and had taken on SLB 13 of these planes by the time they were grounded globally in March 2019. In the past few months, the aviation regulators of US, Europe and some other countries have allowed the Max to fly again after carrying out modifications approved by them in both the software and hardware of this aircraft. The Indian Directorate General of Civil Aviation is yet to approve the changes and allow the Max to fly again either within; to; from or over (overfly) the country.

31/03/21 Saurabh Sinha/Times of India

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