India budget carrier Spicejet has been granted possession of one of its leased aircraft following a legal saga in Dubai.
Carlyle Aviation Partners had impounded the aircraft a week ago.
A SpiceJet flight to Dubai was dramatically diverted just minutes before it was due to land.
The captain was ordered to divert to Dubai’s second airport – Al Maktoum airport.
Once passengers had disembarked, the plane was seized by representatives of the lessor.
After remaining idle for a week at the airport, the Dubai International Financial Centre Court granted the release of the aircraft back to SpiceJet.
However, Spicejet’s financial woes still continue and it is still working diligently to raise extra funding.
The board is set to discuss this week the issuance of equity shares and/or convertible securities.
