Indian low-cost carrier Spicejet has reached a settlement agreement with Export Development Canada (EDC), the terms of which will allow the airline to clear major liabilities and help boost its balance sheet, Spicejet said.
Under the agreement, Spicejet will acquire full ownership of 13 EDC-financed De Havilland Canada Dash 8-400 aircraft, bolstering the airline's operational capabilities.
Spicejet will pay approximately $91 million to resolve outstanding liabilities with regards to the 13 turboprop aircraft.
Seller: Maple Leaf Financing
