SpiceJet’s stock price increased by 6% on Wednesday, October 9, after the airline settled a Rs 1,108 crore (USD 132 million) dispute with aircraft leasing company Babcock & Brown Aircraft Management (BBAM).

The dispute, valued at Rs 1,107 crore (USD 131.85 million), involved SpiceJet and three lessors under BBAM’s management: Horizon Aviation 1 Ltd, Horizon II Aviation 3 Ltd, and Horizon III Aviation 2 Ltd. SpiceJet stated in a release on Wednesday that the long-standing issue was resolved for USD 22.5 million.

This news has positively impacted SpiceJet’s stock market performance.

This settlement comes after SpiceJet raised Rs 3,000 crore through a QIP, aiming to improve its financial stability and operational efficiency. 

The airline recently resolved a USD 16.7 million dispute with Engine Lease Finance Corporation (ELFC), further strengthening its financial position.

At 13:43 pm, the shares of SpiceJet Airline were trading 4.78% higher at Rs 65.80 per share on the NSE.

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