SpiceJet shares rise 4% on launching 8 new domestic flights by November 15

SpiceJet shares soared 4.4 per cent in trade and registered an intraday high of Rs 64 per share on BSE. The stock gained momentum after the airline company announced expanding its domestic network.

 

Around 11:36 AM, SpiceJet shares were up 2.86 per cent at Rs 63 per share on BSE. In comparison, the BSE Sensex was up 0.72 per cent at 80,045.36. The market capitalisation of the company stood at Rs 8,074.62 crore. The 52-week high of the stock was at Rs 79.9 per share on BSE and 52-week low of the stock was at Rs 36.75 per share.

 

"SpiceJet is further expanding its domestic network with the launch of eight new flights starting November 15, 2024," the filing read. 

 

As per the filing, the company through its expansion will connect Jaipur with Varanasi, Amritsar and Ahmedabad, while also linking Ahmedabad with Pune. 

 

This expansion follows the recent launch of 32 new flights in October 2024, including two international flights connecting Delhi with Phuket.

 

“These new flights reflect our commitment to supporting passenger demand across tier‐II cities and beyond. With our expanded winter schedule, including international and UDAN routes, we aim to provide our customers with greater convenience, affordability, and seamless travel experiences,” said Debojo Maharshi, chief business officer, SpiceJet.

 

Last month, SpiceJet also commenced UDAN flights linking Shivamogga in Karnataka with Chennai and Hyderabad, and introduced double daily flights between Chennai and Kochi, enhancing connectivity across key regional and metropolitan cities. 

 

Prior to this, SpiceJet had enhanced its fleet by another 10 aircraft. Seven of these aircraft were to be acquired on lease, while three previously grounded ones were being reintroduced. 

 

The development came after the airline secured Rs 3,000 crore fresh capital infusion through qualified institutional placement (QIP).

 

SpiceJet is an Indian airline company, known for providing affordable air travel services across domestic and international routes. It was founded in 2005 and has since become a major player in India’s aviation sector, offering both economy and premium services. SpiceJet primarily operates as a budget carrier, focusing on keeping ticket prices low while maintaining operational efficiency and passenger convenience.

 

In the past one year, SpiceJet shares have gained  per cent against Sensex's rise of 22 per cent.