CIT Group Finance (Ireland) Unlimited Company v SpiceJet Limited [2026] EWHC 1277 (Comm)
Following SpiceJet's failure to satisfy payment obligations under Early Termination Agreements ("ETAs") entered into after aircraft lease payment defaults, the Commercial Court held that the lessor was entitled to render the ETAs null and void and revert to its remedies under the original leases. Rejecting arguments based on estoppel, waiver and reasonableness, the Court found that redelivery acceptance certificates issued under the ETAs did not prevent the lessor from pursuing lease-based claims arising from the lessee's earlier defaults.