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Awaiting price reaction for this filing.
SpiceJet has completed the full payment of $24 million to Credit Suisse, fully settling an agreement signed in May 2022. The original claim from Credit Suisse/SR Technics was $41.77 million, which was agreed to be settled for $24 million in a structured payment plan. The liability was linked to legacy commercial arrangements that pre-date the current promoter's tenure. With this payment complete, SpiceJet has removed a long-standing financial overhang and strengthened its balance sheet. The company says it is financially stronger and focused on growth, fleet expansion, and continued settlements with lessors and creditors.
Positive for shareholders — clearing a legacy liability reduces financial risk and improves the company's balance sheet. This could boost investor confidence, though the airline's overall turnaround still depends on operational performance and ongoing fund-raising.