Indian low-cost carrier SpiceJet is reportedly planning to operate its fleet of Boeing 737 MAX from September 2021, after a possible ungrounding of the aircraft by the Indian Civil Aviation Authority.

In a statement to Reuters, SpiceJet revealed that it has agreed to a settlement with its 737 MAX lessor – Avolon, regarding the approval for lease restructuring.

The airline, having 13 Boeing 737 MAXs, is seeking to negotiate with US aircraft manufacturer Boeing for the losses incurred due to the forced grounding of the aircraft by the Directorate General of Civil Aviation (DGCA) due to technical faults.

SpiceJet had reported a widened loss of $106 million in the first quarter of 2021, with the inoperability of the 737 MAX as a significant contributor to the airline's financial results.

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SpiceJet reported a loss of $106 million in their latest Q1 financial report.