SpiceJet finalises lease agreement for 10 Aircraft to boost capacity ahead of Summer Schedule

SpiceJet has finalised lease agreements for 10 aircraft as part of its efforts to augment capacity in preparation for the upcoming summer schedule.

This move underscores SpiceJet's commitment to providing seamless connectivity and enhanced services to its passengers during peak travel seasons. The additional aircraft will enable the airline to meet the growing demand for air travel, particularly during the busy summer months.

SpiceJet has received three airframes as part of recent settlement agreements, further strengthening its fleet capabilities. These settlements with key aircraft lessors have also resulted in savings of INR 685 Crore for the airline.

On March 7, SpiceJet announced the successful resolution of a $49.8 million (INR 413 Crore) dispute with Echelon Ireland Madison One Ltd. The settlement resulted in savings of $48 million (INR 398 Crore) for SpiceJet and the acquisition of two airframes.

Additionally, SpiceJet resolved an $11.2 million (INR 93 Crore) dispute with aircraft leasing firm Cross Ocean Partners, resulting in the transfer of an airframe and an engine to the airline.

Moreover, SpiceJet and Celestial Aviation, a subsidiary of AerCap, mutually settled their $29.9 million (INR 250 Crore) dispute, resulting in a saving of INR 235 Crore for SpiceJet.

SpiceJet remains steadfast in its mission to serve the Indian aviation sector and looks forward to continuing its growth trajectory while delivering unparalleled value and convenience to passengers across the country.

Shares of SPICEJET LTD was last trading in BSE at Rs. 50.37 as compared to the previous close of Rs. 55.19. The total number of shares traded during the day was 6293571 in over 21254 trades.

The stock hit an intraday high of Rs. 59.40 and intraday low of 49.02. The net turnover during the day was Rs. 334827993.00.

Source : Equity Bulls

Keywords

SPICEJET INE285B01017 LeaseAgreement 10Aircraft