SpiceJet Expands Fleet with 10 New Aircraft Ahead of Summer Rush

14 Mar 2024 , 03:43 PM

SpiceJet finalized lease agreements for 10 aircraft on March 14 to bolster capacity ahead of the summer schedule. The stock price of SpiceJet surged by 8.26% to ₹54.53 on March 14 at the time of writing.

This initiative demonstrates SpiceJet’s dedication to enhancing connectivity and services for passengers, especially during peak travel seasons.

The additional aircraft aim to address the rising demand for air travel, particularly during the busy summer months.

SpiceJet recently received three airframes through settlement agreements with key aircraft lessors, strengthening its fleet capabilities. These settlements resulted in savings of ₹685 Crore for SpiceJet.

On March 7, SpiceJet resolved a ₹413 Crore dispute with Echelon Ireland Madison One Ltd., saving ₹398 Crore and acquiring two airframes.

Another dispute of ₹93 crore with Cross Ocean Partners led to the transfer of an airframe and an engine to SpiceJet. SpiceJet also settled a ₹250 Crore dispute with Celestial Aviation, a subsidiary of AerCap, saving ₹235 Crore.

The airline remains committed to serving the Indian aviation sector and aims to sustain its growth while providing value and convenience to passengers nationwide.

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