SpiceJet collabs with FTAI Aviation; Stock surges 4%

8 Jun 2023 , 12:23 PM

SpiceJet’s shares surged in the morning on June 8 after announcing a partnership with FTAI Aviation to reduce maintenance expenses and aircraft downtime.

FTAI Aviation, a leading aftermarket engine services provider, will lease up to 20 engines to SpiceJet, including maintenance services. The partnership will provide SpiceJet access to a pipeline of available engines, eliminating the need for frequent shop visits.

This collaboration aims to reduce maintenance expenses and enhance overall performance for SpiceJet. At the time of writing the Stock was trading at Rs.28.95, which is at a 8.18% increase than the previous day’s close.

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