SpiceJet gains after data shows rise in market share for Oct'19

The airline saw a rise in market share from 14.7% in Sep'19 to 16.3% in Oct'19.

Nov 19, 2019 09:11 IST India Infoline News Service

Shares of SpiceJet rose 5% in afternoon trade after DGCA released air traffic data for October 2019.

The airline saw a rise in market share from 14.7% in Sep'19 to 16.3% in Oct'19. SpiceJet Ltd carried around 20 lakh passengers in the month of October and is second to market leader Indigo which commanded a 47.4% share in the same month.

SpiceJet posted wider yoy loss of Rs462.6cr for Q2FY20 owing to expenses related to the grounding of Boeing 737 MAX planes and changes in accounting norms. 

Overall, India's domestic air traffic grew 4% yoy in October 2019, after witnessing declines for four consecutive months.

However, the passenger load factor of Air India, SpiceJet, GoAir, IndiGo, AirAsia and Vistara fell in October vs. that in September.

SpiceJet Ltd is currently trading at Rs108.70 up by Rs2.7 or 2.55% from its previous closing of Rs106 on the BSE.

The scrip opened at Rs110 and has touched a high and low of Rs111.35 and Rs108 respectively. So far 11,73,720 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs6,357.01cr.

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