SpiceJet to soon receive Q400 plane as part of settlement with lessor NAC

SpiceJet on Tuesday said it will soon be receiving a Q400 aircraft as part of the settlement reached with lessor Nordic Aviation Capital (NAC) last year.

The airline has settled all past liabilities for the Q400 planes leased from NAC, and under the settlement agreement it already has five Q400 aircraft.

"The ownership of these planes has been transferred to SpiceJet," the airline said and added that the sixth Q400 plane is en route to India from Germany.

The aircraft is expected to arrive in Delhi soon.

The carrier, which is taking various measures to deal with multiple headwinds, recently announced four major settlements with key aircraft lessors.

According to the airline, these settlements will result in substantial savings of Rs 1,252 crore.