Spicejet rises on fleet expansion plans; to launch 8 domestic flights from 15 Nov'24

Spicejet jumped 2.19% to Rs 62.59 after the company announced that it will expand its domestic network with launch of eight new fights starting from 15 November 2024.

These new routes will connect Jaipur with Varanasi, Amritsar and Ahmedabad, while also linking Ahmedabad with Pune.

This expansion follows the recent launch of 32 new flights in October 2024, including two international flights connecting Delhi with Phuket.

Last month, the company also commenced UDAN flights linking Shivamogga in Karnataka with Chennai and Hyderabad, and introduced double daily flights between Chennai and Kochi, enhancing connectivity across key regional and metropolitan cities.

Debojo Maharshi, chief business officer, SpiceJet, said, We are excited to announce the launch of new flights from Jaipur to Varanasi, Amritsar, and Ahmedabad, as well as from Ahmedabad to Pune, providing our passengers with greater flexibility and convenience. These new flights reflect our commitment to supporting passenger demand across tier‐II cities and beyond. With our expanded winter schedule, including international and UDAN routes, we aim to provide our customers with greater convenience, affordability, and seamless travel experiences.

SpiceJet is a low-budget air carrier. The airline operates a fleet of Boeing 737s, Q-400s & freighters and is the country's largest regional player operating 63 daily flights under UDAN or the Regional Connectivity Scheme. The airline also operates a dedicated air cargo service under the brand name SpiceXpress offering cargo connectivity across India and on international routes.

The low-cost air carrier standalone net profit declined 26.69% to Rs 149.96 crore on 15.3% fall in revenue from operations to Rs 1,695.52 crore in Q1 FY25 over Q1 FY24.

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