SpiceJet reaches settlement with aircraft lessor CDB Aviation amid financial pressures

By moneycontrol

Low-cost airline SpiceJet has “commercially agreed” to a settlement over the lease of Boeing MAX aircraft from CDB Aviation, less than three weeks after reaching a similar deal with Avolon, another plane lessor, as it battles the adverse impact of the pandemic and other pressures on its finances.

“This will add to the already announced settlement with Avolon and grow its fleet of 737 MAX aircraft. The airline expects to start operations of MAX aircraft around the end of September 2021, subject to regulatory approvals,” the airline said in a statement.

CDB Aviation’s fleet consists of 379 owned and committed aircraft and its global customer network comprises 72 lessees across 37 jurisdictions. Besides SpiceJet, its clients in India include AirAsia India, GoAir (now GoFirst) and IndiGo.

The announcement comes within three weeks of an announcement by SpiceJet that it had reached a settlement with Avolon, another major lessor of MAX aircraft, amid speculation over its financial health. 

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