You are here: Home » News-IANS » Business-Economy
Business Standard

SpiceJet to get 16 Boeings on lease, stocks jump 10%

IANS  |  Mumbai 

At a time when the struggling-to-stay-afloat has created a capacity short fall in the Indian sector, is set to induct 16 aircraft on lease in the next 10 days.

The company said in a BSE filing on Friday, that will induct 16 737-800 NG aircraft on dry lease and has applied to the of Civil (DGCA) for a No Objection Certificate (NOC) to import the aircraft.

Scrips of advanced over 10 per cent on this news. It was trading at Rs 110.40 per share, up by Rs 9.15 or 9.04 per cent during the afternoon session.

"Subject to regulatory approvals, the aircraft would begin joining SpiceJet fleet in the next 10 days."

"This is the first lot of 737s that we are inducting in our fleet. The sudden reduction of capacity has created a challenging environment in the sector," Ajay Singh, Chairman and Managing Director, SpiceJet said.

The debt-ridden fleet size is down to 14 aircraft from around 120 last year. Jet is in the midst of a severe liquidity crisis that has affected its operations and resulted in the grounding.

On Thursday, Jet suspended all its international flights, raising fresh fears about the survival of the

--IANS

ravi/in

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, April 12 2019. 15:00 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU