SpiceJet share price jumped over 5 per cent in intraday trade on the BSE on Thursday, September 11, in a lacklustre market after the company said it secured a $ 89.5 million liquidity boost through Carlyle settlement. SpiceJet share price opened at ₹33.49 against its previous close of ₹33.06 and rose 5.4 per cent to an intraday high of ₹34.85. However, it pared gains soon and traded 2.24 per cent up at ₹33.80 around 10:25 am. Equity benchmark Sensex was flat at 81,415 at that time.

SpiceJet on September 11 said it had reached a settlement with Carlyle Aviation Partners, unlocking $79.6 million in cash maintenance reserves for future aircraft and engine maintenance and an additional $9.9 million in cash maintenance credits to offset its lease obligations.

According to the company, this agreement significantly enhances its liquidity and supports its ongoing restructuring efforts.

“These liquidity enhancements are part of the overall settlement agreement with Carlyle Aviation Partners and its affiliated entities, under which the lessors shall restructure certain lease obligations totalling $121.18 million in conjunction with the issuance of equity shares aggregating to $50 million,” SpiceJet said.

“The settlement agreement also provides for a mechanism under which, in the event lessors realise proceeds above $50 million from the sale of the issued shares, a portion of such excess will be applied to offset future lease obligations,” said the aviation company.

(This is a developing story. Please check back for fresh updates.)