SpiceJet shares hit 10% upper circuit on adding 3 Airbus A320 aircraft

SpiceJet share price spiked 10 per cent to the upper circuit on Thursday after it inducted three Airbus A320 aircraft into its fleet under a damp-lease agreement.

Shares of beleaguered airline SpiceJet zoomed 10 per cent to hit the upper circuit on Thursday, July 23, after several media reports suggested that the company has inducted three Airbus A320 aircraft into its fleet under a damp-lease agreement. 

 

Following this report, SpiceJet's share price spiked 10 per cent to hit the upper price band of ₹12.32 on the BSE as against its last closing price of ₹11.20. The small-cap airline stock, among the two listed on Dalal Street, witnessed higher-than-average volumes. 

 

As of 12.55 AM, 10.76 million shares of SpiceJet were traded so far as against a two-week average of 3.94 million shares. There were only buy orders for 7.60 million shares at the time of writing this report. 

 

 

The spike in SpiceJet shares comes at a time when it is struggling from the impact of higher crude oil prices and declining market share. So far in 2026, its stock has declined 59 per cent while in a year it has lost 69 per cent.

 

The 52-week high for SpiceJet shares is ₹40.84, and the 52-week low is ₹9.53. 

SpiceJet inducts 3 Airbus A320s

SpiceJet, which largely operates Boeing aircraft, reportedly said that all three Airbus A320s have arrived in India and will begin commercial operations later this week. This would strengthen the airline's operational capacity. 

 

The aircraft have been inducted on a damp lease basis, meaning that the lessor provides the aircraft, pilots and maintenance, while the airline supplies the cabin crew and operates the flights.

 

As per a TV news channel report, the airline also said it is in advanced discussions with other lessors to induct additional aircraft in the coming months.

SpiceJet's market share falls in June

In another development, as domestic air traffic fell nearly 12 per cent to 13.5 million in June compared to 15.3 million passengers flown by the carriers in May, SpiceJet faced a decline in its market share.

 

In the wake of surging fuel prices due to the West Asia conflict, airlines had temporarily curtailed their networks. READ MORE

 

The data from Directorate General of Civil Aviation (DGCA), released on July 21, showed that SpiceJet's market share dropped to 1.9 per cent last month from 2.5 per cent in May. At the same time, India's biggest airline IndiGo saw an increase in market share to 66.3 per cent in June from 64.9 per cent in May. 

 

SpiceJet last reported its financial results for the December quarter (Q3) of fiscal 2025-26 (FY26), wherein it recorded a loss of ₹269.27 crore.