June 30, 2022

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Indigo in 100 Aircraft Club; Spicejet in 150 Aircraft League!!

Indigo is now in 100 Aircraft club. (See 100)

Spicejet does not want to lag behind.

SpiceJet is believed to be looking to order close to 150 new aircraft. It is looking at raising money for its ambitious fleet expansion plans.
Currently, SpiceJet has some 41 planes in its fleet
25 Boeing 737s, 
14 Bombardier Q400s and 
2 leased Airbus 320
Remaining profitable for the 3rd consecutive quarter, SpiceJet last month posted a net profit of Rs 23.77 crore due to steep fall in fuel costs and other expenses. The carrier now has the original promoter Ajay Singh at the helm. He was speaking to the reporters after the company’s annual general meeting. 
Spicejet Promoter Ajay Singh

– that the company has done “exceedingly well” in the past two quarters, 
– that performance shall continue. 
– 2016 would be a positive year for the domestic aviation sector, provided fuel prices remain soft and the market would be stimulated with lower fares.
– the response to RFP (Request for Proposal) for new aircraft is being evaluated, 
– we will take the best decision in the interest of the company
– we hope that we can do it in this financial year
– It is important to get it right. It is not important whether you do it in one or two months. 
– we need to find the cheapest way of financing SpiceJet. This time, I don’t think equity dilution is the best way to do it. We will look at other options.

-It looks like the oil prices are going to remain benign for the next two or three quarters; the airline will try to reduce other costs so that it is insulated from the impact of a potential rise in oil prices in times to come.
– we continue to focus on increasing our sources of revenue… We just need to behave sensibly
– these orders will stay with SpiceJet for 10-15 years and we must put our best foot forward and make sure we buy these planes in an optimal manner.

With Spicejet sounding so up beat, aviation in India is indeed looking up. (See Stars shining)

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