SpiceJet to induct 16 Boeing 737-800 aircraft; stock surges 18% in two days

The company said it will induct 16 Boeing 737-800 NG aircraft on dry lease and has applied to the DGCA for a no objection certificate to import the aircraft.

Shares of SpiceJet surged 10 per cent to Rs 111 on Friday, gaining 18 per cent in the past two trading days after the company said it will induct 16 Boeing 737-800 NG aircraft on dry lease. The company has applied to the Directorate General of Civil Aviation (DGCA) for a no objection certificate (NOC) to import the aircraft.

The stock was trading at its highest level since July 24, 2018 on the BSE. In the past one month, it has rallied 44 per cent, as compared to a 2 per cent rise in the S&P BSE Sensex.

SpiceJet said