SpiceJet gains nearly 7% on $16 million dispute settlement with Genesis

Over the last two months, the domestic aviation player has settled disputes including Aircastle (Ireland) & Wilmington Trust SP Services and Shannon Engine Support.

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26 Aug, 2025 12:21

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Shares of SpiceJet were trading around 7 percent higher on December 19, after the company reported in an exchange filing that it had reached an amicable settlement with Genesis, a commercial airline leasing company

This announcement resolves a $16 million dispute between both parties. As per the agreement, SpiceJet will pay Genesis $6 million and Genesis will acquire $4 million in SpiceJet equity at a price of Rs 100 per share.

The stock has gained around 9 percent over the last one month.

In a release, Ajay Singh, Chairman and Managing Director, SpiceJet, said, “This settlement marks another crucial step in our journey towards financial stability. We are pleased to have resolved this matter amicably with Genesis through constructive negotiations. This agreement, which includes Genesis acquiring an equity stake in SpiceJet, will significantly reduce our financial liabilities and further strengthen our balance sheet.”

The company added in the release that subject to the settlement terms being satisfied, both parties have agreed to withdraw all ongoing litigations and disputes related to this matter at the appropriate forums.

Over the last two months, the domestic aviation player has settled disputes including Aircastle (Ireland) & Wilmington Trust SP Services and Shannon Engine Support.