Troubled Indian budget carrier SpiceJet said on Tuesday it will lease eight additional Boeing 737 aircraft to bolster its fleet ahead of the festive and winter season.
The latest deal takes the airline’s total fleet additions to 18 aircraft, including two earlier agreements to lease 10 Boeing jets scheduled for delivery starting in October.
SpiceJet has signed multiple settlements in recent years to resolve disputes with lessorsa and other creditors, but has continued to struggle with capacity expansion.
Last week, the carrier repaid $24 million to Credit Suisse and secured an $89.5 million settlement from Carlyle’s commercial aviation investment and servicing unit.
The airline posted its second consecutive quarterly loss in June, hurt by weak leisure travel demand on certain routes during the worst India-Pakistan fighting in decades.
It also flagged that a delay in returning its grounded aircraft to service added to its woes.
(Reporting by Urvi Dugar; Editing by Sumana Nandy)
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