Wednesday, November 17, 2021

SpiceJet, Boeing Settle 737 Max-Related Claims

Budget airline SpiceJet said on Wednesday US planemaker Boeing had agreed to settle the outstanding claims related to the grounding of its 737 MAX aircraft.

The announcement from the country's second-largest airline comes a day after billionaire investor Rakesh Jhunjhunwala-backed Akasa Air placed an order for 72 Boeing 737 MAX jets valued at nearly $9 billion at list prices.

"Boeing has agreed to provide certain accommodations and settle the outstanding claims related to the grounding of 737 MAX aircraft and its return to service," SpiceJet said in a filing to the domestic stock exchanges.

The settlement will allow the resumption of new aircraft deliveries from SpiceJet's order of 155 MAX aircraft, the airline said, adding that it will also pave the way for inducing "efficient and younger MAX aircraft" into its fleet.

SpiceJet is Boeing's biggest customer in the South Asian nation for the MAX planes.

17/11/21 Reuters/NDTV

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