India’s SpiceJet reaches settlement deal with Credit Suisse
04.04.2022 – 00:57 UTC
SpiceJet (SG, Delhi Int’l) has reached “an in-principle commercial agreement” with investment bank Credit Suisse to settle a dispute over a debt, in which a court had previously issued a winding up order for the indebted budget carrier.
In a Mumbai Stock Exchange filing, SpiceJet said: “We wish to inform you that Credit Suisse AG and the company have now reached an in-principle commercial settlement to the dispute and the process of documentation is underway. The settlement […] follows the company’s successful settlements [in the past] with the Boeing Company, De Havilland Aircraft of Canada Limited, and aircraft lessors such as CDB Aviation and Avolon.”
In a separate statement it elaborated that it had “already deposited USD5 million on the direction of the Hon’ble Madras High Court in the Credit Suisse case and there is no adverse financial liability on the company. [The agreement] involves payment of the settlement amount over a mutually agreed period of time.”
SpiceJet disclosed in December 2021 that the Madras High Court had issued…
China’s Jiangxi Cargo, Sichuan Airlines to add A330P2Fs
17.02.2022 – 02:26 UTC
Jiangxi Cargo Airlines (Nanchang) and Sichuan Airlines (3U, Chengdu Shuangliu) have agreed to lease A330-300(P2F)s from CDB Aviation.
In a statement announced during the 2022 Singapore Airshow, the Chinese lessor said Chengdu-based Sichuan Airlines will lease two A330-300(P2F)s with deliveries due in late 2022 and the middle of 2023. The carrier already operates three A330-200Fs.
For its part, start-up Jiangxi Cargo Airlines will lease one A330-300(P2F) to be delivered in early 2023. The new Nanchang-based start-up is a joint venture between the Jiangxi Provincial Government’s Jiangxi Railway Aviation Investment Group and Beijing-based Hongyuan Group, a privately-owned conglomerate which will shortly take an equity holding in Air Belgium (KF, Brussels Charleroi). Jiangxi Cargo Airlines is already active albeit it as a freight forwarder which charters in capacity from established carriers. It will develop Nanchang Changbei International Airport into a key freight transit hub where facilities at the Nanchang Aviation Logistics Industrial Park are already under construction.
