India, Sept. 8 -- SpiceJet on Monday said it has completed the full payment of $24 million to Credit Suisse, thereby fulfilling the terms of a settlement agreement signed in May 2022. The move closes a long-standing liability that predated the tenure of the airline's current promoter.
The original claim of $41.77 million by Credit Suisse/SR Technics was settled at $24 million under a structured plan. With this payment, SpiceJet has eliminated a significant financial overhang, reinforcing its turnaround efforts.
"This settlement not only brings closure to an old liability but also demonstrates our resolve to meet commitments despite a challenging operating environment," said Debojo Maharshi, Chief Business Officer of SpiceJet.
The airline...