SpiceJet, Genesis reach agreement in $16 million dispute, share prices shoot up

SpiceJet and Genesis resolved a $16 million dispute. SpiceJet paid $6 million and gave Genesis $4 million in equity. This settlement strengthens SpiceJet's financial position. The airline's shares rose after the news. SpiceJet continues its financial recovery. The deal includes dismissing ongoing lawsuits. Carlyle Aviation also converted debt to equity in SpiceJet. Acuité Ratings upgraded SpiceJet's credit rating.