India, Sept. 11 -- SpiceJet Limited has finalized a settlement with Carlyle Aviation Partners, unlocking $79.6 million in cash maintenance reserves earmarked for future aircraft and engine upkeep, along with $9.9 million in maintenance credits to offset lease obligations. The agreement significantly bolsters the airline's liquidity and supports its ongoing restructuring plans.
Under the broader settlement with Carlyle Aviation Partners and its affiliates, certain lease obligations totaling $121.18 million will be restructured. As part of the deal, equity shares worth $50 million will be issued to Carlyle. Additionally, if the lessors realize proceeds exceeding $50 million from the sale of these shares, a portion of the surplus will be appl...