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SpiceJet Settles Settlement With Avolon, Lessor Of MAX Airplane; Stock Climbs 1%

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At 12:00 pm, Spicejet shares were trading at Rs 72.65, higher by 2.2 per cent, on the BSESpiceJet has entered into a settlement with Avolon, a major lessor of MAX aircraft, allowing for return of the 737 MAX aircraft to service after a gap of two years.

SpiceJet will start operating the MAX aircraft around the end of September, the airline said in a regulatory filing to the stock exchanges.SpiceJet's chairman and managing director Ajay Singh expressed confidence that MAX aircraft will "play a major role" in the airline's expansion plans.

"As India emerges from Covid-19 and air traffic picks up again, the MAX aircraft will play a major role in our future expansion," Ajay Singh, SpiceJet's chairman and managing director said.A total of 30 airlines and 175 countries banned the 737 MAX aircrafts two years back after two crashes killed as many as 346 people.

SpiceJet currently has 13 Boeing Max aircraft in its fleet.At 12:00 pm, Spicejet shares were trading at Rs 72.65, higher by 2.2 per cent, on the BSE as against the Sensex's rise of 0.2 per cent.




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