The airline has fulfilled in entirety the terms of the settlement agreement signed between the two parties
Budget airline SpiceJet on Monday said that it has completed the full payment of $24 million to Credit Suisse.
Accordingly, the airline has fulfilled in entirety the terms of the settlement agreement signed between the two parties in May 2022.
This marks the closure of a long-standing liability that pre-dates the tenure of the airline’s current promoter, the airline said .
Legacy issues
According to Debojo Maharshi, Chief Business Officer, SpiceJet, “The completion of this payment is another important step in our continued efforts to put legacy issues firmly behind us. This settlement not only brings closure to an old liability but also demonstrates our resolve and ability to meet commitments despite a challenging operating environment.”
“SpiceJet today is financially stronger, more resilient, and fully focused on growth and profitability.”
On the date of the execution of settlement agreement in May 2022, the total claim of Credit Suisse or SR Technics was $41.77 million, which the parties agreed to settle for $24 million in a structured payment plan.
The airline added that it continues to take decisive steps to strengthen its financial position, including successful fund-raising initiatives, settlements with key lessors and creditors, and strategic expansion of its fleet and network.
Published on September 8, 2025
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