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SpiceJet shares continue to fly high; zoom over 11%

Press Trust of India  |  New Delhi 

Shares of continued to rise for fourth day in a row Tuesday, zooming over 11 per cent on plans to expand its fleet and announcement of new international destinations.

The scrip jumped 11.19 per cent to close at Rs 132.70 on BSE. During the day, it climbed 13.78 per cent to Rs 135.80.

On the traded volume front, 229.15 lakh shares were traded on BSE during the day.

Buying was also seen in other listed which advanced 7.35 per cent to Rs 1,583.15 at close of trade on BSE.

Shares of zoomed nearly 9 per cent Monday amid the company announcing that it will launch direct flights from to seven international destinations, including Colombo, Jeddah, Dhaka, and Hong Kong.

The shares had climbed 8.5 per cent Friday after the announced it will induct 16 737-800 NG aircraft, a move that will help in bringing down flight cancellations.

In four days, the scrip has gained 40.49 per cent.

Tuesday said it plans to expand its regional jet fleet to 32 aircraft by adding five more 90-seater Q400s.

The move is aimed at augmenting capacity in the domestic markets especially on regional routes, following the near collapse of Jet Airways, which has resulted in massive surge in air fares besides mismatch in demand and supply amid

The Gurugram-based had last week announced dry leasing of 16 737-800 NG for the carrier.

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

First Published: Tue, April 16 2019. 17:30 IST