SpiceJet takes off on buzz of launching new domestic flights

SpiceJet jumped 4.16% to Rs 87.55 after the media reported that the low cost airliner has launched 20 new flights scheduled to commence operations from 29 March onward.

According to the reports, SpiceJet will be the first and only carrier in the country to launch nonstop flight services on the UDAN routes of Varanasi-Patna and Amritsar-Patna. With the commencement of these new flights, the airline will now operate a total of 52 flights connecting 12 cities under the regional connectivity scheme.

Along with this, the low-cost carrier has introduced a host of new flights on the Guwahati-Patna, Hyderabad-Mangaluru, Bengaluru-Jabalpur, Patna-Varanasi and Mumbai-Aurangabad sectors, the reports added.

SpiceJet will also reportedly enhance its operations with additional frequencies on the routes of Mumbai-Bagdogra (second frequency), Mumbai-Chennai (fifth frequency), Hyderabad-Mangaluru (second frequency) and Guwahati-Delhi (second frequency) sectors.

SpiceJet on Monday (17 February) informed that it inducted two Airbus A320 aircraft on wet lease effective 14th February, 2020. The aircraft have been inducted from BH Air, a Bulgarian-registered airline based in Sofia, post regulatory approvals from Directorate General of Civil Aviation (DGCA). With the latest induction, SpiceJet fleet now stands at 121, it added. The airline has added more than 40 planes to its fleet since April 2019.

On a consolidated basis, SpiceJet's net profit rose 20.98% to Rs 77.96 crore on 46.93% increase in total revenue from operations to Rs 3,656.36 crore in Q3 December 2019 over Q3 December 2018.

SpiceJet is a domestic low-budget air carrier which provides scheduled flights between major cities in India.

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