SpiceJet has announced plans to expand its fleet by adding 10 more aircraft by next month, with the first induction scheduled for October 10. This expansion includes seven leased aircraft and three that were previously grounded. The move follows a fresh capital infusion of Rs 3,000 crore from a Qualified Institutional Placement (QIP) conducted last month.
Currently, SpiceJet operates 19 aircraft, while an additional 36 remain grounded as reported by Planespotter.net on October 8. The fleet enhancement is part of a broader strategy to strengthen the airline’s operational capacity and meet increasing air travel demand.
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In response to the expansion news, SpiceJet’s stock saw a notable increase today. The share price jumped 9%, reaching ₹62.66, peaking at ₹63 during the day from a low of ₹57.21. This surge reflects investors’ positive reception to the company’s strategic expansion plans and its implications for future growth.
The airline has confirmed agreements for the leased aircraft, expecting the complete induction of these planes by November 15. Two of these aircraft have already arrived in India and are ready for immediate operationalization.
In addition to leased aircraft, SpiceJet will also gradually reintroduce three of its previously grounded planes into service. The first three are expected to re-enter operations by the end of November, marking a significant step in bolstering the airline’s fleet.
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Ajay Singh, SpiceJet’s Chairman and Managing Director, emphasised that the addition of these 10 aircraft is vital for accommodating the rising demand for air travel and enhancing the airline’s service capacity. This strategic expansion is set to reinforce SpiceJet’s growth trajectory and financial stability, further supported by an upcoming Rs 736 crore from a previous funding round.
