SpiceJet to add 10 grounded aircraft by April amid weak stock performance

Struggling airline company SpiceJet has announced plans to bring 10 grounded planes, including four Boeing 737 MAX aircraft, back into service from mid-April 2025, according to a report by The Economic Times.

 

This move aims to strengthen its current fleet of 28 planes, despite the return of some aircraft to lessors. Since October 2024, the low-cost carrier has added 10 aircrafts to its operations — three previously grounded and seven newly leased aircraft.

Strengthening connectivity

In the past three months, SpiceJet has introduced over 60 new flights, improving its network and offering passengers better travel options. Chairman and Managing Director Ajay Singh emphasised the airline’s focus on growth: “Our plan to bring 10 aircraft back into service by mid-April reflects SpiceJet’s unwavering commitment to growth and operational excellence. We remain focused on providing reliable and affordable air travel to millions of Indians,” he said speaking to The Economic Times.

 

To revive its grounded fleet, SpiceJet partnered with StandardAero Inc, a leading engine repair company, and CFM International, the maker of LEAP-1B engines. These collaborations have already helped bring three Boeing 737 MAX aircraft back into service. The airline has also resolved issues with several key lessors and partners, including Export Development Canada and Engine Lease Finance Corporation, in a step to survive in the aviation industry.

 

SpiceJet’s declining stock performance

According to research platform marketsmojo.com, despite operational improvements, SpiceJet’s stock performance reflects market challenges. On January 10, 2025, its shares fell by 5.01 per cent to an intraday low of Rs 50.5, marking a total decline of 7.13 per cent over three days. The airline’s stock is trading below its 5-day, 20-day, and 200-day moving averages, indicating a bearish trend. Over the past month, SpiceJet’s stock has dropped by 17.54 per cent, underperforming the broader Sensex index, which declined by 5.16 per cent.