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SpiceJet, one of India’s leading airlines, has taken decisive steps to bolster its operational capacity with the finalization of a lease agreement for 10 additional aircraft. This move, announced by the airline on Thursday, aims to cater to the escalating demand for air travel, especially during peak seasons, ensuring seamless connectivity and enhanced services for passengers.
In a statement, SpiceJet highlighted the significance of this fleet expansion, emphasizing its commitment to meeting the growing needs of travelers, particularly during busy periods like the upcoming summer months. Currently operating with a fleet of over 30 aircraft, the addition of these new planes is poised to further strengthen SpiceJet’s operational capabilities.
This development comes on the heels of SpiceJet’s recent receipt of in-principle approval from the Bombay Stock Exchange (BSE) to raise approximately Rs. 2,242 crore through the issuance of shares and convertible warrants on a preferential basis. A substantial portion of this fund infusion is earmarked for the airline’s expansion initiatives, including network expansion, fleet augmentation, and operational enhancements, aimed at reinforcing SpiceJet’s position in the competitive aviation sector.
Moreover, SpiceJet has successfully resolved multiple disputes with key aircraft lessors, resulting in significant cost savings for the airline. Notably, a $49.8 million dispute with Echelon Ireland Madison One Ltd was settled, leading to savings of $48 million and the acquisition of two additional airframes. Additionally, disputes with Cross Ocean Partners and Celestial Aviation were mutually resolved, further bolstering SpiceJet’s fleet and financial standing.
The airline’s proactive approach towards dispute resolution and fleet expansion underscores its commitment to serving the Indian aviation sector and delivering exceptional value to passengers nationwide. As SpiceJet continues on its growth trajectory, it remains focused on enhancing its operational efficiency and maintaining its position as a prominent player in the dynamic aviation landscape of India.
Sources By Agencies
