SpiceJet shares jumped nearly 7% on Monday after the airline outlined an aggressive expansion plan to double its operational fleet by the end of 2025 and nearly triple its capacity. The aviation stock gained momentum today supported by fresh aircraft inductions, successful creditor settlements, and stronger liquidity, fuelling strong investor sentiment around the carrier’s turnaround trajectory.

The shares of SpiceJet surged as much as 6.82% to ₹37.90 on the BSE, while its market capitalisation climbed to ₹4,785 crore. The aviation stock is down 40% from its 52-week high of ₹63.40 hit on November 28, 2024. The counter is up 34% from its 52-week low of ₹28.13 touched on October 8, 2025.

Technically, the stock is currently trading above its 5-day, 20-day, 50-day and 100-day moving averages, but remains below its 200-day moving average.

In an exchange filing today, SpiceJet said that by the end of 2025, it aims to more than double its capacity and nearly triple its ASKM, marking a significant milestone in the airline’s growth journey. ASKM (available seat kilometres) is a key aviation metric that measures an airline’s passenger-carrying capacity by multiplying the number of available seats by the number of kilometres flown.

“The company has firmed up damp-lease agreements for 19 aircraft scheduled to join the fleet between October and November 2025. Fourteen are already in operation, and the recent return of a reactivated Boeing 737 MAX takes the total additions so far to 15. This marks a clear step forward in SpiceJet’s capacity build-up for the coming year,” SpiceJet said in its investor presentation.

The low-cost carrier aims to bring up to 18 of its grounded Boeing aircraft back into service by April 2026, including four in the early winter period to meet peak travel demand. “Two have already rejoined the fleet, upto two more ungrounded and inducted into the fleet by December 2025, and the remaining four are planned to return by early summer 2026.”

For winter 2025, the airline plans to scale operations to 225 daily flights, up sharply from 125 flights during the previous summer and 150 flights last winter—reflecting renewed confidence in demand recovery and network expansion.

As per the release, the airline has also improved its liquidity through two major settlements. Its agreement with Carlyle Aviation Partners released $79.6 million in cash maintenance reserves and $9.9 million in lease credits. Additionally, it fully repaid $24 million to Credit Suisse, clearing a long-pending liability and strengthening its financial position.

SpiceJet on November 12 reported a consolidated net loss of ₹621 crore for the July–September quarter of FY26, a sharp increase from the ₹458 crore loss recorded in the same period last year. This was attributed to weaker passenger volumes and higher foreign exchange losses.

Operational revenue also fell, slipping 13% to ₹792 crore in Q2FY26 from ₹915 crore in the corresponding quarter of FY25.

Recently, CRISIL assigned the airline an A4+ rating, citing better liquidity and stronger capital-raising ability. Acuite Ratings upgraded SpiceJet to BB (Stable) from BB– (Stable) and reaffirmed its A4+ short-term rating, underscoring the carrier’s strengthening fundamentals.

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