SpiceJet signs MoU with Avenue Capital Group pertaining to 50 new aircraft

Indian domestic airline SpiceJet has inked a memorandum of understanding (MoU) with Avenue Capital Group for financing, acquisition, and sale and lease‐back of up to 50 new aircraft to be ordered by the former.

The MoU outlines the next steps and conditions under which the US-based Avenue Capital Group will help with placing of SpiceJet’s new aircraft portfolio. This includes sale and lease‐back in addition to the ownership assumption of possibly up to 50 of the aircraft.

Ajay Singh – Chairman and Managing Director of SpiceJet said: “We are delighted to enter into this strategic alliance with Avenue Capital Group and we look forward to closely working with them. This alliance will ensure a seamless induction of the planes in our fleet and help us plan better for the long term.”