Bengaluru — Low-cost carrier SpiceJet said Monday that it had settled with another lender of Boeing’s MAX aircraft, CDB Aviation. After India cleared the 737 MAX last month, it plans to start operating the aircraft by the end of September.
The 737 MAX was grounded worldwide in March 2019 after two fatal crashes in five months killed 346 people, put Boeing in a financial crisis and then worsened the pandemic.
In August, India’s aviation safety regulator, Civil Aviation Director, said he allowed the 737MAX aircraft to fly immediately after about two and a half years of regulatory grounds.
SpiceJet said in August that it hopes that the grounded 737 MAX jets in the fleet will resume service at the end of September after a settlement with lessor Avolon on aircraft leasing.
The ban was lifted in India months after the aircraft was commissioned in the United States and Europe. Recently, grounding orders have been lifted in other countries such as Australia, Fiji, Japan and Malaysia.
The resumption of MAX aircraft service will require regulatory approval from SpiceJet, India’s second-largest airline in terms of market share and the only airline in the country to fly aircraft.
China is the largest market in the region where Boeing conducted a domestic test flight last month but has not yet approved the return of the 737 MAX.
SpiceJet’s share price rose 0.3% on Monday, while rival Indigo owner InterGlobe Aviation fell nearly 2%.