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SpiceJet settles $4.5 million dispute with Shannon Engine Support

Oct 25, 2024•over 1 year ago

Contract Type

settlement

GurgaonTransportationTravelairlines/aviation

Description

SpiceJet Limited has announced the settlement of an ongoing dispute with Shannon Engine Support Limited (SES) for an aggregate sum of $2 million, resolving a $4.5 million dispute. The settlement was reached through amicable negotiations, leading to the withdrawal of all ongoing litigations and disputes between the two parties.

Company Information

Company

SpiceJet Limited

Location

319 Udyog Vihar Phase 4 Road

Gurgaon, Haryana, India

About

SpiceJet Limited is a prominent low-cost airline based in Gurgaon, Haryana, India. Established in 2005, it has become the fourth largest airline in India by domestic passenger numbers, operating a fleet that includes Boeing 737 Max, Boeing 737-800, and Bombardier Q400 aircraft. The airline focuses on fuel efficiency and passenger comfort while serving a network of 73 destinations, including 60 domestic and 13 international locations. SpiceJet operates approximately 250 daily flights, connecting major cities and remote areas, and plays a significant role in the Indian regional connectivity scheme (UDAN). The airline also offers cargo handling and air freight services, along with value-added features like online flight bookings, travel insurance, and discount offers. Known for its innovative approach, SpiceJet has introduced several industry firsts in India, including the use of bio-fuel jets and electric tarmac coaches. The airline aims to provide affordable and reliable air travel, catering to a diverse range of travelers.

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Fundz is a real-time business intelligence platform powered by agentic AI that proactively delivers personalized daily signals — including funding rounds, executive changes, M&A activity, 13F institutional filings, SEC 8-K events, investor activity, and website modifications — based on each user's watchlist and ICP. A trusted data source at firms such as BlackRock, Oracle, Kleiner Perkins, LinkedIn, HubSpot, and Cloudflare, Fundz democratizes the institutional-grade intelligence that previously required a PitchBook or Bloomberg terminal. Features include FundzWatch™ for automated website change detection, Daily Briefing for AI-powered daily briefings, and unified cross-signal alerts across 200,000+ companies. Developers and data teams can access these signals programmatically via the Fundz Funding Data API, with transparent published pricing.