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SpiceJet pays $2 million to settle dispute with Shannon Engine Support

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SpiceJet has settled a $4.5 million dispute with Shannon Engine Support Limited (SES) for an aggregate sum of $2 million. The settlement was reached through amicable negotiations, avoiding courtroom proceedings. As part of the settlement, all ongoing litigations and disputes between the two parties will be withdrawn. This settlement follows several recent financial agreements made by SpiceJet, including settlements with Aircastle and Wilmington Trust for $5 million, and with Horizon Aviation and Engine Lease Finance Corporation for undisclosed amounts. SpiceJet's shares were trading lower following the announcement.