NSE: Spicejet Ltd Share Price has decreased by –9.52 in the last 1 month, +21.40
SpiceJet Ltd Lease Agreement
SpiceJet shares saw a rise of 7.56% on March 14. This share is trading for Rs 54.20. The airline has signed a lease agreement for 10 new aircraft, after which the shares have seen a rise.
Anticipated Increase in Passenger Traffic
The number of passengers is expected to increase in the summer season, and keeping this in mind, SpiceJet is going to increase its capacity.
Commitment to Service and Connectivity
The move reflects the airline’s commitment to provide better connectivity and service to passengers during the peak travel season. The additional aircraft will help meet the growing demand for air travel, especially during the busy summer months.
Focus on Fuel Efficiency and Affordability
SpiceJet has said that this capacity expansion plan will help it strengthen its fleet with low-fuel consumption aircraft.
For example, SpiceJet recently ordered Boeing 737 MAX planes, which burn 20% less fuel than older planes.
Additionally, the airline plans to add more affordable seats to its fleet, which will help it offer lower fares and enhance its competitiveness.
Financial Performance
SpiceJet shares had fallen by 15% in the last month, but in the last 6 months, these shares have given a return of 40%. Shares have fallen 11% so far this year, but their returns in the last year have been 62%.
Dispute resolved:
Earlier on March 7, SpiceJet had resolved the dispute of Rs 413 crore. This agreement will save the airline Rs 398 crore and two airframes will be acquired.
About SpiceJet
SpiceJet is the second largest airline in India. the airline’s headquarters is in Delhi. SpiceJet flies to over 60 cities in India and 10 international destinations. The airline has more than 130 aircraft in its fleet.
- CEO: Ajay Singh (Since May 21, 2015)
- Founded: February 9, 1984
- Founders: Ajay Singh, Bhupendra S. Kansagra
- Headquarters: Gurugram
- Number of Employees: 7,131 (As of 2023)
- Revenue: ₹6,072.55 crores INR (US$760 million, 2021)
- Subsidiaries: Spicexpress and Logistics Private Limited
conclusion:
The shares have seen a rise after SpiceJet signed a lease agreement for 10 new aircraft. This move will help the airline increase its capacity and meet the increasing passenger demand during the summer season.