Besides cash, the Indian carrier to get two freighters as part of the deal
The settlement will allow the resumption of new aircraft deliveries from SpiceJet's order of 155 MAX aircraft
The airline received no objection certificate from the civil aviation ministry last month
Last month, SNV Aviation, which owns Akasa Air, said it expected to start flying next year after getting initial clearance from the civil aviation ministry
The Rakesh Jhunjhunwala-backed airline has held discussions with Airbus, but Boeing jets could be delivered earlier, with the first batch of 10 coming in the first half of next year
Boeing reached a settlement with the victims' families from the March 2019 crash of one of its 737-MAX aircraft that claimed 157 lives
The proposed agreement will require the election of an additional board director with aviation/aerospace, engineering, or product safety oversight expertise
FAA chief Steve Dickson told a US congressional panel that Boeing Co has "more work to do" as the planemaker continues to face scrutiny following two fatal 737 MAX crashes
It's a bold bet by Jhunjhunwala, in a market that has seen some airlines collapse in the face of intense fare wars and high costs. Here's all you need to know about the new airline
The 737 MAX was grounded worldwide in March 2019 after two fatal crashes in five months killed 346 people, plunging Boeing into a financial crisis
The US Federal Aviation Administration lifted a flight ban on the 737 MAX in November after a 20-month review following the fatal crashes in 2018 and 2019
Vice Chancellor Morgan Zurn ruled Boeing stockholders may pursue some claims against the board, but dismissed others.
Shares of SpiceJet on Friday closed nearly 3 per cent higher after aviation regulator DGCA lifted the ban on Boeing 737 Max planes' commercial flight operations after almost two-and-half years.
SpiceJet plans to bring the aircraft back in service by Sep-end
Around 175 countries have allowed the 737 MAX to return to service following a safety ban, with 30 airlines already restarting their MAX aircraft services.
Around 175 countries have allowed the 737 MAX to return to service following a nearly two-year safety ban, with 30 airlines already restarting their MAX aircraft services.
The FAA action is the latest to look at Boeing's safety practices following twin fatal crashes of the company's 737 Max
India, until recently the world's fastest growing aviation market, is increasingly key for global planemakers
Boeing Co on Wednesday posted its first quarterly profit in almost two years, as deliveries of its best-selling 737 MAX jets to airlines gained traction amid a sharp rebound in travel bookings
Boeing shares were up 3.8% in premarket trading following the results