SpiceJet resolves dispute with Aircastle and Wilmington Trust for $5 million

16 Oct 2024 CW Team

SpiceJet announced that it has settled its $23.39 million dispute with Wilmington Trust SP Services (Dublin) Limited and Aircastle (Ireland) Designated Activity Company for a total payment of $5 million.

The settlement also covers an agreement regarding the handling of specific aircraft engines. Both parties decided to resolve the matter amicably through discussions, avoiding further legal proceedings.

Ajay Singh, Chairman and Managing Director, SpiceJet stated, “We are pleased to have resolved this long-standing dispute with Aircastle and Wilmington Trust. This settlement reflects our commitment to resolving matters in the best interest of the company and its stakeholders. With this and other significant settlements, SpiceJet continues to strengthen its financial position and lay the foundation for a more resilient future. We remain focused on our operational goals and enhancing the customer experience.”

According to the airline’s press release, all ongoing litigation between the parties will be withdrawn across relevant forums. The resolution aligns with SpiceJet's broader efforts to restore financial stability and mitigate legal risks.

This settlement follows two other major financial resolutions for the airline. On October 9, SpiceJet reached an agreement with Horizon Aviation entities managed by Babcock & Brown Aircraft Management, settling a $131.85 million dispute for $22.5 million. Earlier, on September 24, it finalised a settlement with Engine Lease Finance Corporation (ELFC) over a $16.7 million claim, though the final amount was not disclosed.

“These three consecutive settlements highlight SpiceJet’s determination to address financial challenges and build a stable platform for future growth and operational efficiency,” the release concluded.

(ET)

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..