SpiceJet jumps on plan to add 3 planes to expand regional services

12 Aug 2016

Spicejet is currently trading at Rs 60.10, up by 0.80 points or 1.35% from its previous closing of Rs 59.30 on the BSE.

The scrip opened at Rs. 59.00 and has touched a high and low of Rs. 60.20 and Rs. 58.80 respectively. So far 591134 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 95.30 on 28-Jan-2016 and a 52 week low of Rs. 21.00 on 04-Sep-2015.

Last one week high and low of the scrip stood at Rs. 63.25 and Rs. 58.10 respectively. The current market cap of the company is Rs. 3578.72 crore.

The promoters holding in the company stood at 60.32%, while Institutions and Non-Institutions held 2.39% and 37.29% respectively.

SpiceJet is reportedly adding three Bombardier Q400 aircraft to expand regional services, starting in October, to the northeast and elsewhere. The airline has 14 Q400 aircraft in service from its original order. It is the first such addition. The new aircraft will be based in Kolkata and used on existing and new routes in the northeast. The airline is planning a new Kolkata-Dhaka and Kolkata-Silchar service.

At present, it only flies to Guwahati and Agartala in northeast. SpiceJet operates nearly 300 daily flights and around 120 of these are operated with Q400 aircraft from Delhi, Chennai and Bengaluru. The number of daily flights is likely to increase by a fifth after induction of the new aircraft.

SpiceJet was among the first private companies that stepped into the Indian aviation sector. The airline was launched with an objective to deliver the lowest air fares with the highest consumer value, to price sensitive consumers.

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Puchho Befikar
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