SpiceJet announces fleet expansion, stock gains 9%

SpiceJet has announced expansion of its fleet by the end of November with the induction of 10 aircraft, including seven which will be acquired on lease. The airline said three of its previously grounded planes would be reinducted into service.

The airline said it had already signed agreements for the leased aircraft, with the full induction of all seven planes expected by November 15, 2024.

“This addition is crucial as we continue to meet the growing demand for air travel while strengthening our operational capabilities. With the capital raised, SpiceJet is well-positioned to offer improved services and an expanded route network,” Chairman and Managing Director Ajay Singh said in a statement.

SpiceJet stock gained 9.10% to ₹62.80 on the BSE following the announcement.

Published - October 08, 2024 08:09 pm IST