SpiceJet shares jump 6% as airline resolves $91 million dispute. Details here
Shares of budget carrier SpiceJet Ltd surged 5.72 per cent to hit a high of Rs 56.70 in Thursday’s trade. Last checked, the stock was trading 4.70 per cent higher at Rs 56.15. Despite the mentioned rise, the scrip has declined 14.55 per cent in the past one month.
Today’s upward move in the share price came after the airline announced that it has fully settled a $90.8 million (Rs 763 crore) dispute with Export Development Canada (EDC) for a total of $22.5 million, now paid in full.
“This resolution marks a significant milestone for SpiceJet, resulting in a substantial saving of $68.3 million (Rs 574 crore). The agreement represents one of the largest settlements in SpiceJet’s history, strengthening the airline’s fiscal position,…
