Page 2 - Spicejet

SpiceJet shares fly 6% after Plutus Wealth buys 9 mn shares via bulk deal

As per BSE bulk deal data, Plutus Wealth Management LLP bought 9 million shares at Rs 46 per share of SpiceJet

Stocks to Watch, Feb 27: SBI, Airtel, UltraTech, Nuvama, SpiceJet, IndiGo

Stocks to watch today: SBI has reached a housing loan book of Rs 8 trillion and aims to grow its mortgage book to Rs 10 trillion by March 2027, according to its Chairman, C S Setty

SpiceJet posts Rs 26 cr profit in Dec quarter backed by high performance

Budget airline SpiceJet on Wednesday reported a profit after tax of Rs 26 crore for the three months ended December 2024, helped by overall improved performance. The carrier had posted a loss of Rs 300 crore in the year-ago period. "Total revenue surged by 35 per cent to Rs 1,651 crore, driven by strong passenger demand, improved yields and enhanced operational efficiency. Passenger Load Factor (PLF) stood at an impressive 87 per cent," the airline said in a release. Total revenue stood at Rs 1,077 crore in the 2024 September quarter. However, compared to Rs 2,149 crore reported in the three months ended December 2023, the total revenue is lower in the latest December quarter. The results for the third quarter of the current financial year was scheduled to be announced on Tuesday. However, the meeting of the company's board of directors, through video conferencing, started at 1.30 pm and ended only at 11.50 pm on Tuesday, according to a filing made to the BSE at 12.51 am on ...

SpiceJet to re-induct grounded Boeing 737 Max aircraft fleet into ops

Domestic budget carrier SpiceJet on Tuesday said it is set to re-induct one of its grounded Boeing 737 Max aircraft into operations from January 29, as part of its plan to put all these planes back into service in a phased manner. The first such plane is set to be deployed on high-demand markets such as Jeddah and Riyadh, starting Wednesday, it said. Grounded for several months, the aircraft's return marks a significant milestone in the airline's fleet restoration and operational enhancement efforts, SpiceJet said in a statement. Under its ongoing fleet restoration plan, the airline aims to bring ten aircraft, including four Boeing 737 MAX planes, back into service by mid-April and this is the first 737 MAX aircraft to be brought back under the exercise, it said. In addition to this, SpiceJet said it has since October last year added 10 aircraft to its fleet, comprising three previously grounded planes and seven newly-leased aircraft. This has enabled the airline to expand its net

Adani Enterprises, Zomato, SpiceJet: 15 stks dip 27% below their QIP price

These 15 companies accounted for 70 per cent of total fund mobilisation of Rs 93,453 crore via QIP route in the past six months, according to PRIME Database.

Delhi High Court tells SpiceJet to pay $2.67 million to lessor in a week

Chairman and Managing Director of SpiceJet Ajay Singh appeared before the Delhi High Court during the hearing

SpiceJet to bring 10 grounded Boeing 737 back into service by mid-April

Domestic carrier SpiceJet on Friday announced plans to bring back into operations 10 of its grounded aircraft, including four Boeing B737 Max, by mid-April. The airline said it has added 10 planes to its fleet since October 2024 -- three grounded aircraft that were brought back into service and seven inducted on lease. The move comes close on the heels of SpiceJet signing a pact with US-based engine MRO StandardAero Inc last month for the restoration of its grounded MAX fleet. SpiceJet has 28 aircraft, of the total 62 in the fleet, in operations, comprising 20 B737, six De Havilland Canada DHC-8 Dash 8 and two Airbus A320, as on January 10 as per flight tracking website planespotter.com. The remaining 34 aircraft -- 16 B737s and 18 De Havilland Canada DHC-8 Dash 8 -- are on the ground due to various reasons, as per the website. The return of 10 grounded aircraft back into operations will help the airline significantly increase its current fleet of 28 aircraft, even as some of thes

Stocks to Watch, Dec 31, 2024: RIL, Lupin, ITC, Adani Enterprises, SpiceJet

Stocks to Watch on Dec 31, 2024: From ITC to Adani Enterprises, here are few stocks that will remain in focus today

Will talk to Boeing to restart 737 Max deliveries: SpiceJet CMD Ajay Singh

Boeing delivered about 13 aircraft before halting deliveries as the airline began facing financial difficulties

SpiceJet shareholders discuss funding and expansion plans during AGM

SpiceJet shareholders on Monday sought to know about the airline's funding and expansion plans during the annual general meeting. At the 40th Annual General Meeting (AGM), members also transacted various businesses, including adoption of audited financial statements for the financial year ended March 31, 2024, together with the reports of the board of directors and the statutory auditors, and increasing the company's authorised share capital, according to a regulatory filing. The budget carrier, whose Chairman is Ajay Singh, recently raised Rs 3,000 crore and since then, has been settling pending dues and various disputes. At the AGM, the airline said questions were raised by the members, inter-alia, on future expansion, raising of funds, operating expenses of the company, accounts of the company and addition of new flights. "The Chairman replied the questions of the members and also apprised about the operational highlights of the company, fund-raising efforts, future outlook etc,

Indian carriers see 12% more domestic flyers at 14.2 million in Nov

Indian airlines carried 1.42 crore passengers on domestic routes in November, nearly 12 per cent more compared to the year-ago period, amid rising air traffic demand. In terms of domestic market share, IndiGo topped the list with a 63.6 per cent pie, followed by Air India (24.4 per cent), Akasa Air (4.7 per cent) and SpiceJet (3.1 per cent). While all these carriers saw their share rise, the share of Alliance Air was unchanged at 0.7 per cent in November, according to the latest data from the Directorate General of Civil Aviation (DGCA). "Passengers carried by domestic airlines during January-November 2024 were 1,464.02 lakh as against 1,382.34 lakh during the corresponding period of the previous year thereby registering an annual growth of 5.91 per cent and monthly growth of 11.90 per cent," the watchdog said in its monthly report. Domestic air passenger traffic was at 142.52 lakh in November compared to 127.36 lakh in the same period a year ago. In October this year, domestic ...

SpiceJet to operationalise 3 grounded B737 MAX planes by April 2025

SpiceJet has entered into an agreement with US-based StandardAero that will provide the services for operationalising the airline's grounded Boeing 737 MAX planes and three of the aircraft are expected to return to service by April 2025. Seven Boeing 737 MAX aircraft of the no-frills carrier are on the ground. The airline has inked an agreement with MRO (Maintenance, Repair and Overhaul) services provider StandardAero for enabling restoration of its grounded Boeing 737-8 MAX fleet, according to a release on Friday. StandardAero is also a MRO services provider for CFM LEAP-1B engines, which power SpiceJet's Boeing 737 MAX planes. The agreement with StandardAero follows successful arrangements with CFM International -- the manufacturer of LEAP-1B engines -- and the lessor for the Boeing 737 MAX aircraft. "These developments pave the way for the un-grounding and return to service of three Boeing 737 MAX aircraft by April 2025," SpiceJet said in the release. SpiceJet Chairman and Man

Aircraft lessor Genesis to buy SpiceJet's stake to settle $16 mn dispute

SpiceJet on Thursday said aircraft lessor Genesis will acquire a stake worth USD 4 million in the airline as part of settling a more than USD 16 million dispute. For the settlement, the airline will also pay USD 6 million to Genesis. The budget carrier, which recently raised Rs 3,000 crore amid financial headwinds, has been settling various disputes with lessors and other entities. Subject to the settlement terms being satisfied, SpiceJet said both parties have agreed to withdraw all ongoing litigations and disputes related to this matter at the appropriate forums. In a release, the airline said it has reached an amicable settlement with Genesis, resolving their over USD 16 million dispute. 'Under the agreement, SpiceJet will pay Genesis USD 6 million and Genesis will acquire USD 4 million in SpiceJet equity at a price of Rs 100 per share,' it said. In September, Carlyle Aviation agreed to convert USD 30 million of lease arrears into SpiceJet equity at Rs 100 per share. Earlier,

SpiceJet shares take off 8% on settling $16 mn dispute with Genesis

Shares of SpiceJet rallied up to 7.85 per cent at SpiceJet per share on the BSE in Thursday's intraday deals

Delhi HC summons SpiceJet COO, CEO over non-payment of dues to lessors

The Delhi High Court has directed the chief operating officer and chief executive officer of SpiceJet to appear before it in a plea seeking compliance of over USD 6.03 lakh in payment to the aircraft engines lessors. Justice Manmeet PS Arora "specifically denied" the request of the counsel for judgement debtor, SpiceJet, for the appearance of the two senior officers before the court through video conferencing. "The chief operating officer (COO) and chief executive officer (CEO) of the judgement debtor are directed to remain present in court on the next date of hearing, that is, January 16, 2025," the court said in its order on December 10. The court was hearing an application by the decree holder and aircraft engine lessor Team France 01 SAS and another, seeking a direction for the compliance of the consent order passed on May 29 wherein the airline was directed to make the payment of USD 6,03,870.82 to the decree holders. In the recent hearing, Spicejet's counsel urged the court t

SpiceJet clears Rs 160 crore pending employee provident fund dues

SpiceJet on Friday said it has cleared all employee provident fund dues worth Rs 160.07 crore that were pending for over two years. The low-cost carrier, which has been facing multiple headwinds, recently raised Rs 3,000 crore, following which it has been clearing statutory, GST (Goods and Services Tax) and other dues. Employee provident fund dues amounting to Rs 160.07 crore, spanning over two years, have been cleared, the airline said in a release. According to the release, since October, SpiceJet has been utilising its internal cash flows to meet its statutory obligations, including provident fund and TDS (Tax Deduction at Source) payments, the release said. The airline has also resolved various disputes with aircraft lessors and other creditors. Shares of SpiceJet rose 1.38 per cent to close at Rs 58.59 apiece on BSE.

SpiceJet set to hold annual general meeting for FY24 on December 30

SpiceJet will hold its annual general meeting for the 2023-24 financial year on December 30. At the meeting, the airline will seek shareholders' approval for increasing the authorised share capital to infuse fresh share capital, according to a regulatory filing on Saturday. Approvals will also be sought for the re-appointment of Ajay Singh as a director, appointment of Sonum Gayatri Malhotra as an independent director and for adopting audited financial statements for the 2023-24 fiscal year. The meeting will be held on December 30. Currently, the company's authorised share capital is Rs 15,000,000,000. The filing said in order to facilitate the infusion of fresh share capital in the company, it is necessary to increase the authorised share capital to Rs 20,000,000,000.

SpiceJet secures rights to operate 100 Haj flights from 4 cities in 2025

Haj services have become a critical revenue stream for the airline with Spicejet anticipating to earn Rs 185 crore from these flight operations in 2025

Aircastle drops insolvency case against SpiceJet after $5.6 mn settlement

Earlier in November, the airline had announced the resolution of a $23.39 million dispute involving Aircastle (Ireland) Designated Activity Company and Wilmington Trust SP Services (Dublin) Ltd

SpiceJet flies 3% after lessor Aircastle withdraws insolvency case

Last month, SpiceJet announced the resolution of a $23.39 million dispute with Aircastle (Ireland) designated activity company and Wilmington Trust SP Services (Dublin) Limited