SpiceJet flies high on entering into settlement agreement with De Havilland Aircraft of Canada

SpiceJet is currently trading at Rs. 70.75, up by 1.20 points or 1.73% from its previous closing of Rs. 69.55 on the BSE.

The scrip opened at Rs. 70.35 and has touched a high and low of Rs. 71.80 and Rs. 69.65 respectively. So far 444272 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 107.30 on 16-Dec-2020 and a 52 week low of Rs. 59.40 on 22-Apr-2021.

Last one week high and low of the scrip stood at Rs. 71.60 and Rs. 67.60 respectively. The current market cap of the company is Rs. 4281.88 crore.

The promoters holding in the company stood at 59.46%, while Institutions and Non-Institutions held 2.20% and 38.34% respectively.

SpiceJet has entered into settlement agreement with aircraft manufacturer of DHC-8-400 aircraft (De Havilland Aircraft of Canada) wherein the parties have agreed to settle all their disputes under and related to the aircraft purchase agreement and component solution agreement, subject to compliance with the terms of settlement.

All related proceedings before the UK Court and execution proceedings before the Delhi High Court have been stayed and will be withdrawn upon compliance with the settlement terms.

SpiceJet is among the first private companies that stepped into the Indian aviation sector.

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