Low-cost airline SpiceJet was on October 5, Thursday, given time till October 16 by the Delhi High Court to negotiate a settlement with engine lessor Engine Lease Finance BV. The court has warned that in case the parties fail to arrive at a settlement, it would be compelled to pass an order restraining the use of lease engines.The engine lessors, meanwhile, reiterated that SpiceJet has defaulted on dues following which engine lease agreements have been terminated.
The Delhi Court hearing comes as Engine Lease Finance BV last week moved the court regarding unpaid dues of nine engines. While the cash-strapped airline has returned eight of the nine engines, it continues to use one. The lessor sought directions to restrain SpiceJet from using that engine and return it.