A SpiceJet passenger Boeing 737-800 aircraft takes off from Sardar Vallabhbhai Patel international airport in Ahmedabad, India May 19, 2016. REUTERS/Amit Dave/File PhotoRegister now for FREE unlimited access to Reuters.comBENGALURU, Aug 2 (Reuters) - Indian low-cost carrier SpiceJet Ltd (SPJT.NS) said on Tuesday it had cleared all its outstanding principal dues with the state-run airport operator Airports Authority of India (AAI), sending its shares up nearly 5%.The airline will revert to advance payment mechanism for its daily operations, and AAI will release a 500 million rupees ($6.33 million) bank guarantee, the company added.The airline has been under the spotlight lately after a slew of incidents of technical snags on its flights and one of its Dubai-based lessors asked the regulator to deregister three of SpiceJet's planes.Register now for FREE unlimited access to Reuters.comAdding to its woes, the aviation regulator last week ordered the airline to slash its approved fleet to 50% this summer for eight weeks citing safety snags. The airline said on Monday its flight operations remained normal. read more Shares rose as much as 4.5% to 42 rupees in early trade.($1 = 78.9525 Indian rupees)Register now for FREE unlimited access to Reuters.comReporting by Tanvi Mehta and Meenakshi Maidas in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.
SpiceJet clears all dues with Airports Authority of India, shares rise.