SpiceJet gains on achieving highest load factor in January

Ajay Singh-led budget carrier SpiceJet achieved a load factor of 92.1% in January 2016

Shares of SpiceJet were up 5% at Rs 69 after latest data by the Directorate General of Civil Aviation (DGCA)indicate that the airline has managed to register the highest passenger load factor in January.

Ajay Singh-led budget carrier SpiceJet emerged as the topper with a load factor of 92.1%. It was followed by GoAir and IndiGo, at 84.9% and 84.7%, respectively.

Airlines’ passenger load factor is a measure of their utilisation of aircraft capacity.

According to the data, domestic airlines carried 7.66 million passengers in January 2016, compared with 6.25 million in January 2015.

The stock opened at Rs 67.90 and touched a high of Rs 69.70. At 10:30am, over 4.3 million shares were traded on both the stock exchanges.