โSpiceJet is set to significantly expand its fleet by the end of November with the induction of ten aircraft, marking a major step in the airlineโs growth plans,โ said the company in a filing to the exchanges.
Among these 10 aircraft, seven will be acquired on lease while three previously grounded SpiceJet planes are being reintroduced into service, the company said.
The airline has already signed agreements for the leased aircraft, with the full induction of all seven planes expected by November 15. Two of these leased aircraft have already arrived in India and are scheduled for immediate induction, the filing further read.
โThis addition is crucial as we continue to meet the growing demand for air travel while strengthening our operational capabilities. With the capital raised, SpiceJet is wellโpositioned to offer improved services and an expanded route network. We are committed to delivering seamless, reliable, and affordable travel, and we are excited about the future for both the airline and our passengers,โ said Ajay Singh, Chairman and Managing Director of SpiceJet while commenting on the aircraft addition.
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SpiceJet’s fleet expansion comes after a successful Qualified Institutional Placement (QIP) that raised Rs 3,000 crore, attracting major investors like Goldman Sachs, Morgan Stanley Asia, Tata Mutual Fund, and Discovery Global Opportunity Ltd.
The airline will also receive an additional Rs 736 crore from a previous funding round, boosting its financial stability and growth.
The fresh capital raised will play a key role in ungrounding SpiceJetโs existing aircraft, acquiring new planes, investing in technology, and expanding into new markets.
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