South Asia and Beyond

Pay $5 Mn In 2 Weeks Or Face Liquidation, SpiceJet Told

On a plea by Credit Swiss AG, the Madras High Court has ordered that private carrier Spice Jet be wound up. This follows the airline’s failure to pay the Swiss company $24 million for various services rendered including maintenance, repair and overhaul. Spice Jet said the order had been stayed for three weeks during which it is required to deposit $5 million.