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| SpiceJet closes down despite overseas plans |
| BS Reporter / Mumbai Oct 15, 2009, 16:04 IST |
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Spicejet ended at Rs 37, down by Rs 0.6 or 1.7%, on the BSE.
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(updated at 11am)
SpiceJet is trading strong on plans of starting international operations next year. The stock is trading up Rs 0.6 or 1.7% at Rs 38 on the BSE.
Low-cost carrier SpiceJet Airlines, promoted by a group of investors led by the Kansagra family and Delhi-based Ajay Singh, will be the third private Indian carrier after Jet Airways and Kingfisher to fly overseas.
The airline qualifies for international operations from June next year after it completes five years of domestic operations, a stipulated by the government.
The airline plans to fly mainly to Saarc countries, south-east Asia and select west Asian routes. “We are planning our international launch carefully and will fly only on routes that we think are under-served or have potential for more flights,” said Sanjay Agarwal, chief executive officer, SpiceJet, in an interview to Business Standard.
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