NEW DELHI: Budget carrier SpiceJet is holding discussions with lessors globally to induct aircraft in its fleet to fill the gap which had formed after it grounded 12 Boeing 737 MAX 8 planes post the Ethiopian Airlines crash.
Share prices of SpiceJet gained as much as 14.24 per cent to Rs 104.70 and closed at 7.04 per cent higher to Rs 98.10 compared to the previous close of Rs 91.65.
Earlier this week, there were reports that SpiceJet is in talk with lessors of crisis-hit Jet Airways to induct its Boeing planes. Jet Airways has so far grounded two-thirds (about 80 planes) of its fleet over non-payment of dues to lessors.
Bloomberg had reported the government sent out a proposal that SpiceJet could acquire as many as 40 of Jet Airways’ grounded planes which are owned by lessors. Other reports said aircraft lessors and SpiceJet struck a deal, and it is now only a matter of time that the grounded planes will be delivered to SpiceJet.
For passengers, the acquisition of Jet’s planes by SpiceJet or by any other way in which aircraft count is increased will be a welcome move. It will bridge the gap between the rising demand for air travel and short supply of flight, boosting competition and thereby keeping fares in check
Since the suspension of SpiceJet’s 12 Boeing planes and grounding of numerous Jet Airways aircraft, there has been a significant rise in airfares and flights getting cancelled.
Like aircraft, other airlines are trying to poach Jet pilots who gave an ultimatum to the debt-laden company to clear their pending salaries by March end, failing which they would stop flying from April 1. Reports suggest IndiGo is offering jobs to Jet pilots along with compensation for overdue salaries that is with Jet and other perks.