SpiceJet Soars 5.5% on Exciting Plans to Induct 10 Boeing 737 Aircraft

SpiceJet shares surged 5.5 % in early trade on June 9 following the company’s announcement of inducting 10 Boeing 737 aircraft starting in September.

The airline has signed a lease agreement for 10 Boeing 737 planes, including five 737 Max models. SpiceJet is actively working on restoring and reviving its grounded aircraft, which are expected to be back in service soon.

Ajay Singh, SpiceJet’s chairman and managing director, had previously mentioned plans to revive the grounded fleet within the next two to three months, citing increasing demand in the Indian aviation market. To cater to the market’s growing needs, SpiceJet is focusing on capacity expansion and will induct ten B737 aircraft between September and October.

At the time of writing, SpiceJet shares were trading at Rs 29.24, reflecting a 4.55 % increase on the National Stock Exchange. As per data, approximately 27 lakh company shares were traded, surpassing the one-month daily average of 25 lakh shares. The stock had also witnessed a 4.4 % surge in the previous session due to news of a partnership with FTAI Aviation.

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