FTAI – The Milli Chronicle https://millichronicle.com Factual Version of a Story Thu, 08 Jun 2023 08:52:54 +0000 en-US hourly 1 https://media.millichronicle.com/2018/11/12122950/logo-m-01-150x150.png FTAI – The Milli Chronicle https://millichronicle.com 32 32 India’s SpiceJet partners with FTAI Aviation to restore fleet https://millichronicle.com/2023/06/indias-spicejet-partners-with-ftai-aviation-to-restore-fleet.html Thu, 08 Jun 2023 08:52:53 +0000 https://millichronicle.com/?p=38442 Bengaluru (Reuters) – India’s SpiceJet (SPJT.NS) said on Thursday that FTAI Aviation (FTAI.O) would lease it up to 20 engines, the first few of which the low-cost carrier would use to reactivate some of its grounded fleet over the next 2-3 months.

The partnership with the U.S.-based engine services provider “will reduce maintenance expense and minimise aircraft downtime, enhancing the airline’s overall performance,” Spicejet said in a statement.

The Gurugram-based airline said last month it had begun to revive 25 of its grounded fleet using its own money and a $50 million line of credit through an Indian government scheme it secured.

SpiceJet had also said there were no plans to file for insolvency, quelling fears of a spillover after rival Go Airlines (India) filed for voluntary bankruptcy.

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