SpiceJet has entered into a full and final settlement with the Airports Authority of India (AAI) and has cleared all outstanding principal dues of the airport operator. With this, SpiceJet will no longer remain on cash and carry at AAI run airports across the country and will revert to advance payment mechanism for daily flight operations. SpiceJets ability to clear the pending dues reflects the airlines improved cash flow in the recent time. Further, AAI will release SpiceJets Rs 50 crore bank guarantee following the airline clearing all its principal dues. This will result in additional liquidity for the airline. Powered by Capital Market – Live News
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