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SpiceJet Says Taking Measures to Deal With Capacity Crunch After Jet Airways Shutdown

Shares of the SpiceJet jumped as much as 15 percent on news that Jet Airways had suspended its operations.

Reuters

Updated:April 20, 2019, 7:39 PM IST
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SpiceJet Ltd Chairman Ajay Singh said on Thursday the budget airline was taking "all possible proactive measures" to deal with capacity reduction in the aviation industry, a day after rival Jet Airways Ltd was forced to ground all flights as it ran out of funds.

Shares of the company jumped as much as 15 percent on news that Jet Airways had suspended its operations.

Jet Airways halted all flight operations indefinitely on Wednesday after its lenders rejected a plea for emergency funds, potentially bringing the curtains down on what was once India's largest private airline.

SpiceJet will add six more Boeing 737-800 NG aircraft on a dry lease, in addition to the sixteen 737s and five Bombardier Q400s it inducted recently, the airline said in a statement.


(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
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