Budget carrier SpiceJet on Wednesday said that aerospace manufacturer Boeing had agreed to settle claims related to the grounding of 737 MAX aircraft.
“The company is pleased to announce that it has entered into a settlement agreement with Boeing, wherein Boeing has agreed to provide certain accommodations and settle the outstanding claims related to the grounding of 737 MAX aircraft and its return to service,” the airline said in a statement.
SpiceJet has 13 737 MAX aircraft on its fleet. While the airline did not make the settlement amount public, it said in the quarterly results that it had identified aircraft and supplemental lease rentals and certain other expenses relating to the Boeing 737 MAX aircraft aggregating to ₹289 crore for the half year ended September 30, 2021, ₹560 crore for the year ended March 31, 2021, and ₹671 crore for the year ended March 31, 2020. The DGCA cleared the aircraft for flight operations in August after they were grounded in March 2019 due to the involvement of the aircraft type in two crashes internationally. However, the plane is yet to return to operations pending regulatory approvals.
SpiceJet said the settlement would pave the way for resumption of new aircraft deliveries from its order of 155 MAX aircraft.
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