Page 13 - Spicejet

SpiceXpress, Star Air partner to manage belly space in Star Air's fleet

SpiceJet's cargo arm SpiceXpress on Thursday said it has partnered with Bengaluru-based Star Air to manage the belly space capacity for carrying cargo in Star Air's fleet. The Kolhapur-headquartered Sanjay Ghodawat Group-owned Star Air has a fleet of nine Embraer planes, operating across 20 domestic destinations. This collaboration underlines SpiceXpress's commitment to expanding its reach and strengthening the domestic air cargo infrastructure, SpiceJet said in a statement. Under the collaboration, Star Air will significantly enhance SpiceXpress's domestic network, incorporating nine new destinations, it said, adding, the three-year agreement, extendable by mutual consent, establishes a foundation for seamless cooperation between the two companies. These destinations are Belagavi, Bhuj, Kalaburagi, Kishangarh, Kolhapur, Jamnagar, Jodhpur, Nagpur, and Shivamogga. With this, SpiceXpress' domestic network will increase from 39 to 48 destinations helping the company strengthen its ..

Stocks to Watch: SpiceJet, Adani Green, Aster DM, Polycab, Bank of India

Stocks to Watch on January 11, 2024: SpiceJet plans to raise Rs 2,250 crore through a preferential issue of shares and warrants to reduce its debt burden

SpiceJet to soon start flights to Lakshadweep, Ayodhya, says Ajay Singh

SpiceJet will soon launch flights to Lakshadweep as well as to Ayodhya, its chief Ajay Singh said on Wednesday and emphasised the latest fund infusion will help the airline become more stronger. Addressing the shareholders at the company's annual general meeting, Singh also said it will deploy a large chunk of the funds worth Rs 2,250 crore to grow the airline. As on January 7, SpiceJet had 39 aircraft in operations while 26 were on the ground, as per data available on fleet tracking website Planespotter. Singh told shareholders on Wednesday that the airline has exclusive rights under the government's regional connectivity scheme for Lakshadweep, and will soon launch its air services to the union territory. The airline chief's mention about the Lakshadweep flights also comes amid the ongoing diplomatic row between India and the Maldives. Derogatory comments were made by some deputy ministers of the Maldives against India and Prime Minister Narendra Modi after he visited Lakshadwee

SpiceJet plans to launch flights to Lakshadweep and Ayodhya soon

Lakshadweep has one operational airport on Agatti Island, 90 minutes away from Kochi. All domestic flights to the island are routed through Kochi

Kalanithi Maran vs SpiceJet: Delhi High Court defers hearing to February

The Delhi High Court has asked SpiceJet's chairman and managing director, Ajay Singh, to be present on the next date of hearing

DGCA issues notice to Air India, SpiceJet for rostering untrained pilots

A senior DGCA official confirmed that the notice was issued to airlines after it was found that a large number of flight diversions that were reported at Indira Gandhi International Airport in Delhi

Aviation watchdog DGCA carried out 5,745 surveillance activities in 2023

Regulator DGCA carried out 5,745 surveillance activities with respect to airlines, airports and approved organisations in 2023 as part of its efforts to ensure compliance and enhance safety standards in the aviation space, The activities included 4,039 planned surveillance and 1,706 spot checks and night surveillance. Subsequently, the findings resulted in 542 enforcement actions, the Directorate General of Civil Aviation (DGCA) said in a release on Wednesday. The number of surveillance activities rose 26 per cent last year compared to 2022. Also, the number of enforcement actions increased 77 per cent last year compared to 305 enforcement actions taken against non-compliant personnel, airlines, and other operators in 2022. These enforcement actions included financial penalties against airlines such as Air India, AirAsia (India), IndiGo and SpiceJet. Besides, the watchdog had temporarily suspended its approval to Air India's training facilities, as per the release. Enforcement acti

Boeing asks airlines to inspect 737 MAX planes for possible loose hardware

Boeing has recommended airlines to conduct an inspection of their B737 Max fleet, after an international operator discovered a bolt with a missing nut while performing routine maintenance. In a statement, Boeing said the issue identified on the particular airplane has been remedied. In India three airlines -- Akasa Air, SpiceJet and Air India Express -- have B737 Max planes in their fleet. Earlier on Thursday, the US aviation regulator, Federal Aviation Administration (FAA) issued a statement, saying it was closely monitoring "targetted inspection," of Boeing 737 Max planes for a possible loose bolt in the rudder control system. "The issue identified on the particular airplane has been remedied. Out of an abundance of caution, we are recommending operators inspect their 737 MAX airplanes and inform us of any findings," Boeing said in the statement. The aircraft maker said it has informed the FAA and will continue to keep the regulator aware of the progress. Queries sent to Akasa

SpiceJet's resurgence could disrupt Indian aviation market: CAPA India

Earlier this month, cash-strapped SpiceJet announced it is going to raise a total of Rs 2,241.5 crore through issuance of equity and warrants

Analysts bet on IndiGo, SpiceJet on sustained pax growth, low oil prices

They, however, suggest staying mindful of supply chain issues, and P&W engine snags

Stocks to Watch: SpiceJet, Embassy REIT, BPCL, Nippon AMC, DOMS, Varun Bev

Stocks to Watch on December 20, 2023: Mumbai-based businessman Harihara Mahapatra and his wife Preeti are likely to invest Rs 1,100 crore in SpiceJet for a 19 per cent stake

Ajay Singh's shareholding in SpiceJet down by 38.55% due to new fund raise

The airline announced it is going to raise a total of Rs 2,241.5 crore through the issuance of equity and warrants

SpiceJet initiates fresh funding of $270 mn for Go First acquisition

SpiceJet is among three companies that have shown interest in acquiring the bankrupt airline

SpiceJet zooms 29% in two days on plans to acquire bankrupt Go First

As per reports, SpiceJet is among the three entities that have shown late interest in acquiring bankrupt carrier Go First. The other two are Sharjah-based Sky One and Africa-based Safrik Investments.

SpiceJet shows interest in acquiring bankrupt carrier Go First: Report

The lenders of Go First have been contemplating liquidation as they think it will lead to a better recovery as compared to selling it

SpiceJet board okays Rs 2,250 crore fundraising from 64 investors

Airline slips back to loss in second qtr

SpiceJet-Wilmington Trust SP Services in deadlock over rental agreement

Spicejet said that as per the repayment schedule of arrears they received, the total amount due from February to December alone was $1,560,011

Crisis-hit SpiceJet to raise Rs 2,250 crore through equity shares

Crisis-hit SpiceJet on Tuesday said it will raise fresh capital of Rs 2,250 crore through issuance of equity shares. The airline's board has approved the issuance of equity shares/equity warrants under a private placement basis. The proposed fund infusion will go a long way in enhancing product presence and market reach as well as provide a deep financial foundation, the airline said in a filing. For the quarter ended September, the airline posted a net loss of Rs 428 crore. In the year-ago period, the net loss stood at Rs 835 crore.

Stocks to Watch: Sun Pharma, Infosys, Dixon, DLF, Mankind Pharma, SpiceJet

Stocks to watch on December 12, 2023: Sun Pharma has increased its offer price for acquiring remaining shares of Taro Pharma to $43 per share in cash, compared to $38 before

SpiceJet board adjourns meeting, to discuss funding plans on Tuesday

Crisis-hit SpiceJet's board of directors will continue to discuss fundraising plans on Tuesday after it could only partially complete the agenda items on Monday. On Monday, the no-frills airline's shares touched a 52-week high and ended with more than 10 per cent gains on the BSE as investors were enthused by funding plans and the proposal to list the company's securities on the National Stock Exchange (NSE). In an evening filing to the BSE, SpiceJet said its board on Monday "could only partially complete the agenda items and the meeting has now been adjourned to December 12, 2023 (Tuesday)". Apart from options for raising fresh capital through the issue of equity shares and/or convertible securities on a preferential basis, the board will also consider the September quarter results, as per the filing. Earlier in the day, shares of SpiceJet touched its 52-week high and closed with a gain of 10.19 per cent at Rs 60.57 apiece on the BSE. The airline has been grappling with multiple