SpiceJet Lands Deal: Dispute with Willis Lease Now Settled

Unknown Apr 02, 2026 2 Views

SpiceJet has settled its five-year-long legal dispute with international plane engine lessor Willis Lease Finance Corporation, a major achievement in its process of financial restructuring. As part of the agreement, Willis Lease has withdrawn its insolvency petition against the airline, to the big relief of the low-cost carrier.

This comes after SpiceJet's strategic fiscal moves, including a ₹3,000 crore infusion through a Qualified Institutional Placement (QIP) in September 2024 and another ₹294 crore injection by promoter Ajay Singh. All these infusions have backed the airline's liquidity, enabling it to repay its past obligations and focus on growth in operations.

Chairman Ajay Singh said that this settlement is a testament to the positive effect of SpiceJet's restructuring plan and confirms its resolve to create a stronger, more robust airline.

Source: Economic Times

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