SpiceJet's shares rose by 3% on November 28 after Aircastle, an aircraft lessor based in Ireland, withdrew an insolvency case. This positive development follows a settlement that both parties agreed upon, which SpiceJet considers a significant step in rebuilding relationships with its partners.

Previously, the airline had resolved a $23.39 million dispute with Aircastle and Wilmington Trust SP Services for a total of $5 million, along with an agreement regarding specific aircraft engines.

As of 10:10 AM, SpiceJet's stock was trading at Rs 62.90 on the National Stock Exchange (NSE), reflecting a notable 15% increase over the past week. The resolution of the dispute has allowed both parties to avoid lengthy legal battles, indicating a positive outlook for the low-cost carrier as it addresses its financial challenges.