SpiceJet clears all dues with Airports Authority of India, shares upward push

A SpiceJet passenger Boeing 737-800 plane takes off from Sardar Vallabhbhai Patel world airport in Ahmedabad, India Could maybe furthermore 19, 2016. REUTERS/Amit Dave/File Photo

BENGALURU, Aug 2 (Reuters) – Indian low-ticket provider SpiceJet Ltd (SPJT.NS) acknowledged on Tuesday it had cleared all its principal foremost dues with the dispute-hasten airport operator Airports Authority of India (AAI), sending its shares up in the case of 5%.

The airline will revert to reach rate mechanism for its daily operations, and AAI will commence a 500 million rupees ($6.33 million) bank scream, the corporate added.

The airline has been below the highlight nowadays after a slew of incidents of technical snags on its flights and one of its Dubai-based entirely lessors asked the regulator to deregister three of SpiceJet’s planes.

In conjunction with to its woes, the aviation regulator last week ordered the airline to gash its well-liked fast to 50% this summer for eight weeks citing security snags. The airline acknowledged on Monday its flight operations remained current. be taught more

Shares rose as noteworthy as 4.5% to 42 rupees in early commerce.

($1 = 78.9525 Indian rupees)

Reporting by Tanvi Mehta and Meenakshi Maidas in Bengaluru; Bettering by Rashmi Aich

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