SpiceJet Secures Q400 Aircraft in NAC Settlement

04 Apr 2024 CW Team

The impending arrival of the Q400 aircraft, just ahead of the summer schedule, a peak travel period, underscores SpiceJet's commitment to enhancing its fleet capacity to meet rising demand. With this acquisition, SpiceJet's fleet will now encompass a total of eleven Q400 aircraft, with ownership fully transferred from NAC to the airline.

The significance of this agreement extends beyond mere fleet expansion; it heralds substantial long-term savings for SpiceJet. The company's statement highlights the liberation from monthly rentals for the Q400s, further fortifying its financial position amidst a competitive market landscape.

Following the announcement, SpiceJet's shares surged, reflecting investor confidence in the airline's strategic moves. On the Bombay Stock Exchange (BSE), SpiceJet's shares experienced a notable uptick, rising by 2.7% to reach 63.19 rupees apiece.

This latest development adds to SpiceJet's recent spree of settlements with prominent aircraft lessors, illustrating its proactive approach to resolving disputes and optimizing its operational efficiency. In March alone, SpiceJet finalized agreements with Export Development Canada (EDC), Echelon Ireland Madison One, Cross Ocean Partners, and Celestial Aviation, collectively amounting to significant savings of Rs 1,252 crore.

The settlement agreement with EDC, resolving liabilities worth Rs 755 crore, stands out as a major milestone, facilitating savings of Rs 567 crore for SpiceJet and the acquisition of 13 EDC-financed A400 aircraft. Additionally, settlements with other lessors, including Echelon Ireland Madison One, Cross Ocean Partners, and Celestial Aviation, further underscore SpiceJet's commitment to amicable resolutions and operational enhancements.

SpiceJet's proactive approach to settling disputes and optimizing its fleet underscores its resilience and strategic vision amidst a dynamic aviation landscape. As the airline continues to expand its operational footprint and fortify its financial position, stakeholders remain optimistic about its trajectory in the competitive aviation market.

SpiceJet, one of India's leading private airlines, is poised to bolster its fleet with the acquisition of a Q400 aircraft from Nordic Aviation Capital (NAC), marking another milestone in its recent streak of settlement agreements with aircraft lessors. The agreement, inked last year, not only resolves all previous liabilities but also grants SpiceJet complete ownership of six Q400s, further solidifying its operational independence. The impending arrival of the Q400 aircraft, just ahead of the summer schedule, a peak travel period, underscores SpiceJet's commitment to enhancing its fleet capacity to meet rising demand. With this acquisition, SpiceJet's fleet will now encompass a total of eleven Q400 aircraft, with ownership fully transferred from NAC to the airline. The significance of this agreement extends beyond mere fleet expansion; it heralds substantial long-term savings for SpiceJet. The company's statement highlights the liberation from monthly rentals for the Q400s, further fortifying its financial position amidst a competitive market landscape. Following the announcement, SpiceJet's shares surged, reflecting investor confidence in the airline's strategic moves. On the Bombay Stock Exchange (BSE), SpiceJet's shares experienced a notable uptick, rising by 2.7% to reach 63.19 rupees apiece. This latest development adds to SpiceJet's recent spree of settlements with prominent aircraft lessors, illustrating its proactive approach to resolving disputes and optimizing its operational efficiency. In March alone, SpiceJet finalized agreements with Export Development Canada (EDC), Echelon Ireland Madison One, Cross Ocean Partners, and Celestial Aviation, collectively amounting to significant savings of Rs 1,252 crore. The settlement agreement with EDC, resolving liabilities worth Rs 755 crore, stands out as a major milestone, facilitating savings of Rs 567 crore for SpiceJet and the acquisition of 13 EDC-financed A400 aircraft. Additionally, settlements with other lessors, including Echelon Ireland Madison One, Cross Ocean Partners, and Celestial Aviation, further underscore SpiceJet's commitment to amicable resolutions and operational enhancements. SpiceJet's proactive approach to settling disputes and optimizing its fleet underscores its resilience and strategic vision amidst a dynamic aviation landscape. As the airline continues to expand its operational footprint and fortify its financial position, stakeholders remain optimistic about its trajectory in the competitive aviation market.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Infrastructure Urban

06 Feb 2026

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Infrastructure Urban

06 Feb 2026

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..