Budget airline SpiceJet, involved in multiple court cases, said on Thursday that it reached an amicable settlement with aircraft lessor Genesis, resolving a $16 million dispute.
Under the agreement, SpiceJet will pay Genesis $6 million, and Genesis will acquire $4 million in SpiceJet equity for INR 100 per share. The airline’s shares were trading at roughly half this price of INR 59 apiece on Thursday morning at the Bombay Stock Exchange.
