SpiceJet to induct 16 Boeing 737-800 aircrafts; stock jumps 6%

The new inductions will not just bring down flight cancellations to nil but also help in SpiceJet’s aggressive international and domestic expansion plans, the company said in the filing.

Apr 12, 2019 04:04 IST India Infoline News Service

SpiceJet
Shares of SpiceJet jumped in the morning trade on the BSE as the aviation company will induct 16 Boeing 737-800 NG aircrafts on dry lease and has applied to the Directorate General of Civil Aviation (DGCA) for a No Objection Certificate (NOC) to import the aircraft.

The new inductions will not just bring down flight cancellations to nil but also help in SpiceJet’s aggressive international and domestic expansion plans.

Subject to regulatory approvals, the aircraft would begin joining SpiceJet fleet in the next ten days.

Ajay Singh, Chairman and Managing Director, SpiceJet said, “This is the first lot of Boeing 737s that we are inducting in our fleet. The sudden reduction of aviation capacity has created a challenging environment in the sector. SpiceJet is committed to working closely with the government authorities to augment capacity and minimize passenger inconvenience.”

SpiceJet Ltd is currently trading at Rs108.50, up by Rs7.25 or 7.16% from its previous close of Rs101.25 on the BSE. The scrip opened at Rs104 and has touched a high and low of Rs110.80 and Rs104 respectively.

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