Page 22 - Spicejet

SpiceJet posts highest ever quarterly loss amid high fuel prices

The airline has raised Rs 210 crore from the government's Emergency Credit Line Guarantee Scheme (ECLGS) this year

SpiceJet quarterly loss widens to Rs 838 crore on higher fuel prices

Losses widened to Rs 838 crore ($103.25 million) for the three months ended Sept 30

Sensex falls 171 pts, Nifty holds 18,300; Dr.Reddy's down 4%, LIC jumps 6%

CLOSING BELL: The key benchmark indices gyrated in a narrow trading band on Monday, before settling with losses as FMCG stocks slipped.

European connect: SpiceJet links Amritsar and Italy with one-stop flights

SpiceJet is connecting Amritsar with Rome Fiumicino with a Boeing 737 Max twice a week and will also fly the plane between Amritsar and Milan Bergamo thrice weekly

Stocks to watch: Maruti, SpiceJet, SBI Card, Indus Towers, Tata Chemicals

Stocks to watch today: Maruti Suzuki, Vedanta will report the July-September quarter (Q2FY23) results on Friday, October 28; SBI Card reported 52 per cent YoY jump in net profit Rs 526 crore in Q2FY23

SpiceJet gets DGCA nod for wet leasing 5 planes; 2 aircraft operating

SpiceJet has received aviation regulator DGCA's approval for wet leasing five Boeing 737 Max planes for up to six months and the airline has already deployed two of the aircraft on different routes, according to sources. The approval for taking the planes on wet lease was given by the Directorate General of Civil Aviation (DGCA) earlier this month. The sources said the remaining three aircraft will be inducted into SpiceJet fleet in the coming weeks. There was no immediate comment from SpiceJet. The airline already has Boeing 737 Max planes in its fleet. To cater to rising demand in the winter schedule which begins from October 30, SpiceJet and IndiGo have received approval for their proposals to take planes on wet lease. Under wet lease arrangement, planes are leased along with operating crew and engineers. Generally, wet leasing of planes is allowed for short periods to tackle supply constraints and ensure that airfares do not surge significantly. IndiGo has received DGCA nod

Pilots, officers apprehensive of SpiceJet's salary hike announcement

Days after SpiceJet announced a salary hike for its pilots, a section of captains and first officers of the airline has expressed apprehension about the implementation of the revised remuneration citing terms and conditions. In a communication to pilots on October 19, SpiceJet said effective November 1, 2022, its captains' salaries will increase to Rs 7 lakh for 80 hours of monthly flying and Rs 6.13 lakh for 70 hours from the current Rs 4.5 lakh-level which was made effective from October 1, 2022. Accordingly, salaries of trainers and senior first officers have also been increased commensurately, the Gurugram-headquartered airline said. The trainers comprise Designated Examiner (DE), Type Ratings Instructor (TRI) and Line Training Captain (LTC). However, a section of pilots alleged that the airline has announced a hike in their remunerations while they are yet to get salaries at par with pre-COVID levels, a claim denied by SpiceJet. On an average, a captain is currently getting .

SpiceJet to operate more than 50% flights from Oct 30 as DGCA lifts curbs

SpiceJet will be able to operate more than 50 per cent of its flights from October 30 as the three-month long restrictions imposed on the embattled airline will be lifted in the winter schedule. In the wake of multiple incidents involving the aircraft of SpiceJet, aviation watchdog DGCA had on July 27 capped the number of flights the no-frills carrier could operate at 50 per cent. Later, the restrictions were extended till October 29, also the last day of the summer schedule. Now, in the winter schedule starting from October 30, the airline will be operating 3,193 flights every week. This is also 6.6 per cent more than the number of weekly flights operated by the airline in the previous winter schedule. From October 30, SpiceJet has been allowed to operate more than 50 per cent of their flights. The 50 per cent restriction on the number of flights was co-terminus with the summer schedule that ends on October 29, Directorate General of Civil Aviation (DGCA) chief Arun Kumar told PTI

DGCA removes 50% capacity cap on SpiceJet flights from October 30

The DGCA on Friday also approved Indian carriers' winter schedule. Indian carriers will operate 21,941 weekly flights, 1.55% less during the season compared to the previous winter season, it noted.

DGCA lifts 50% cap restrictions on SpiceJet, to operate with full capacity

Scheduled airlines will operate 21,941 flights on domestic routes every week in the winter schedule starting from October 30

SpiceJet to suspend services in Sikkim due to operational constraints

SpiceJet, the only carrier that runs daily flights to and from the greenfield airport in Sikkim's Pakyong, will suspend services in the hill state from October 30 due to "operational constraints". According to a spokesperson of the budget airline, bad weather and low visibility were bottlenecks that led to the decision. "SpiceJet flights to and from Pakyong airport have been temporarily suspended with effect from October 30, 2022, due to operational constraints owing to the bad weather condition and low visibility at Pakyong. "Pakyong is a VFR (Visual Flight Rules) airport and does not have instrument landing facilities To avoid inconvenience to our passengers, flight operations have been temporarily suspended. We will share an update once the services resume," the spokesperson said. A notice to this effect has been put up at the reception and the ticket counter of the airport. An airport official said on the condition of anonymity that SpiceJet has suffered significant losses dur

SpiceJet announces revised salary structure, raise for its Captains

SpiceJet has announced a revised salary structure for its Captains increasing their monthly remuneration to Rs 7 lakh-a-month for 80 hours of flying.

Hyderabad incident: DGCA orders engine inspection of SpiceJet 14 Q400 plane

On October 12, a SpiceJet Q400 plane with 86 passengers on board conducted an emergency landing in Hyderabad as smoke was detected in the cabin when it was mid-air

DGCA asks SpiceJet to get engine oil samples of entire Q400 fleet examined

Following a recent incident of smoke in a SpiceJet plane cabin, the aviation regulator DGCA has directed the airline to send the engine oil samples of the entire Q400 fleet consisting of 14 operational aircraft to Pratt & Whitney Canada to ascertain the presence of metal and carbon seat particles.

Policy must to ensure airlines maintain 4-6 months of cash reserves: CAPA

Indian airlines industry will continue to be sick unless there are policies in place to ensure that the operators have at least 4-6 months of cash kept in reserves for continuity of operations, according to global consultancy and aviation firm CAPA. CAPA said it estimates the domestic airline industry could post losses to the tune of USD 1.4-1.7 billion or more losses this fiscal. The two listed airlines, IndiGo and SpiceJet, have already reported losses of Rs 1,064.30 crore and Rs 789 crore, respectively, in the April-June quarter of the current fiscal. Financial fitness is a fundamental criterion of operating (globally)India is the only country where technically insolvent companies can expand, can continue to operate, Kapil Kaul, CEO for South Asia at CAPA, said at an industry event in Mumbai recently. He said going by the global practice, the airlines have to ensure that they have at least 4-6 months of cash reserves when no revenue is coming in while their air operator permits

SpiceJet plane makes emergency landing in Hyderabad; DGCA orders probe

A SpiceJet plane coming from Goa made an emergency landing at Hyderabad airport on Wednesday night after smoke was observed in the cabin and DGCA is probing the incident

SpiceJet deposits TDS, Form 16 to be issued to staff in a fortnight

Airline says significant portion of PF contributions of all employees is also being credited and the remaining amount will be released shortly

SpiceJet shares settle 9% higher on report of likely Rs 1,000-cr govt loan

Shares of SpiceJet on Thursday ended nearly 9 per cent higher amid reports that the company is expected to receive an additional Rs 1,000 crore as part of the modified ECLGS (Emergency Credit Line Guarantee Scheme). After beginning the trade on a positive note, the stock of the budget carrier further jumped 10.14 per cent to Rs 42.35 during the day on the BSE. It ended at Rs 41.85 apiece, higher by 8.84 per cent. On the volume front, 11.28 lakh shares of the company were traded on the BSE. In the broader market, the 30-share BSE Sensex climbed 156.63 points to settle at 58,222.10. An airline source said SpiceJet is expected to receive an additional Rs 1,000 crore as part of the modified ECLGS. The ECLGS is expected to help SpiceJet, which has been facing turbulent times of late. Ajay Singh, Chairman and Managing Director of SpiceJet, said the speed and urgency with which the aviation and finance ministries have been taking up issues and problems being faced by airlines post Covid

Sensex rises 157 pts, Nifty atop 17,300; Nifty Metal index up 3%, FMCGs dip

CLOSING BELL: JSW Steel, Hindalco, Coal India, L&T, Tata Steel, ICICI Bank, HCL Tech, Axis Bank, Tata Motors, Tata Consumer Products, Shree Cement, and Wipro were the top gainers

Stocks to Watch: RIL, ONGC, OMCs, DLF, SpiceJet, Zee, BoB, Apollo Hospitals

Stocks to Watch Today: Shares of oil producers and marketing companies are likely to be in focus following the steep production cut by OPEC+.