SpiceJet signs lease to induct wide-body aircraft Airbus A340 in its fleet

SpiceJet has signed a lease to add an Airbus A340 to its fleet, with the aircraft expected to arrive in India by September-end and begin operations in October under a wet lease model

Low-cost carrier SpiceJet on Friday said it has signed a lease agreement to induct an Airbus A340 aircraft into its fleet to increase capacity amid rising passenger demand.

 

The plane is expected to arrive in India by the end of September and will enter service in the first week of October, the airline said in a BSE filing.

 

“We are thrilled to introduce the Airbus A340 into our fleet as part of our ongoing efforts to enhance our service offerings and expand our domestic and international network. This aircraft will allow us to tap into new markets and expand our international footprint," said Debojo Maharshi, chief business officer of SpiceJet. 

 

 

It added that the aircraft will initially be operated under a wet lease and later transition to a damp lease, subject to regulatory clearance. Wet leasing is an arrangement where the lessor provides an aircraft and the crew, too. So here, the lessor is responsible for the operational maintenance of the flight. Meanwhile, a damp lease is an aircraft leasing arrangement where the lessor provides the plane along with the flight crew, but does not supply the cabin crew, maintenance, or insurance.

 

SpiceJet said that it intends to keep the wide-body in its fleet beyond a year. It added that it is also in advanced talks to lease a second A340. This development comes soon after the airline announced its plan to induct 18 Boeing 737s, including four 737 MAX aircraft, into its fleet from October 2025.

 

Shares of SpiceJet were down 1.8 per cent at ₹29.81 apiece on the BSE at 2.24 pm.