SpiceJet’s shares soar 7.5% after announcing addition of 3 aircraft before festive holidays

Shares of SpiceJet rose 7.5% to trade at an intraday high of Rs 35.97 after the airline announced that it added three new aircraft to its operational fleet to cater to the upcoming festive holiday season. An Airbus A340 wide-body and two Boeing 737s have been added. Reacting to the news, there was a sharp rise in trading volume, rising to 355.09 lakh shares, well above its 2-week average of 146.03 lakh. 

 The budget airline clarified in another exchange filing that, apart from announcing its Q2 results, there is no further information or “material” that has impacted the sudden increase in trading volume. “There is no pending information or announcement from the Company which may have a bearing on the price and volume behaviour in the securities of the Company except submission of unaudited financial results”

The new planes will join operations between October 10 and 11. A total of 20 aircraft are set to join the airline’s operational fleet between October and November, to be operated under a dry-lease model. The airline will unground four planes by mid-December, further boosting capacity. “The addition of these planes is the cornerstone of SpiceJet’s strategy to significantly scale up its operations this winter,” the statement said. 

The airline also announced that it is on track to more than double its operational fleet size and triple its available seat kilometres (ASKMs), introducing new routes, increasing flight frequencies, and adding exciting destinations across its network.

 “This is just the beginning of a large-scale expansion that will redefine SpiceJet’s operations this winter. With every new induction, we are strengthening our operational capabilities, opening new routes, and ensuring greater convenience and connectivity for our passengers across India and beyond. These new inductions will more than double our operational fleet and triple our ASKM by December 2025. Our fleet expansion reflects the robust travel demand we are witnessing and our readiness to meet it with confidence,” Ajay Singh, Chairman and Managing Director, SpiceJet, said. 

The stocks are currently trading 5% above their previous closing, at Rs 34.75, with current market capitalisation standing at Rs 4,910 crore.