News on Medial

India court warns SpiceJet of 'drastic action' if Credit Suisse dues unpaid

Reuters · 1y

SpiceJet, an Indian budget airline, has been ordered by the country's Supreme Court to pay $1.5 million to Credit Suisse by September 15th for unpaid dues. If the airline fails to make the payment, the court warned of unspecified "drastic action" at the next hearing on September 22nd. SpiceJet and Credit Suisse have been embroiled in a legal dispute since 2015 over unpaid dues. The airline recently faced financial challenges, including a separate order to pay $12 million to its former owner.