SpiceJet settles INR 1bn payment to City Union Bank

SpiceJet has settled INR 1bn payment to City Union Bank. The last tranche of INR 0.25 crore was paid on June 30, 2023 as per the airline’ filing on July 3. “This successfully closes the entire loan account which was taken in 2012. The repayment of the loan amount releases all securities that had been pledged with the bank. SpiceJet remains committed to finding amicable settlements with all its creditors as the airline builds back its fleet and its business,” the airline said in a statement. The repayment to City Union follows an agreement with Nordic Aviation Capital (NAC), “The agreement with