Spicejet to acquire 10 new Boeing Aircraft at US$ 700 million

Spicejet Ltd has announced that the Board of Directors of the Company on April 24, 2007 has approved the acquisition of 10 new Boeing 737-800/900 ER Aircraft by converting its option into firm orders at a list price of about US$ 700 million. The aircraft will be delivered from year 2009 through 2011. With this exercise, Company has now completed acquisition plan for thirty aircraft which will go a long way to augment Company's network in the country and would greatly assist in fulfilling its vision of being India's most preferred Low Cost Carrier.

The stock closed the day at Rs.44.55, down by Rs.0.45 or 1%. The stock hit an intraday high of Rs.45.95 and low of Rs.44.30. The total traded quantity was 171846 shares compared to 2 week average of 394212.

Source : Equity Bulls

Keywords