SpiceJet Clears $24-Million Dues to Credit Suisse, Closes Legacy liability

SpiceJet Ltd. on Monday said it has completed the full payment of $24 million to Credit Suisse, marking the closure of a long-pending liability under a May 2022 settlement agreement.

At the time of the agreement, Credit Suisse and SR Technics had a total claim of $41.77 million, which was restructured to $24 million under a structured plan. The liability was linked to legacy commercial arrangements and pre-dated the tenure of the airline’s current promoter.

With the settlement now complete, SpiceJet said it has removed a long-standing financial overhang and strengthened its turnaround efforts. The airline highlighted recent initiatives including fund-raising, settlements with key lessors and creditors, and strategic fleet and network expansion.