Thu. Dec 1st, 2022

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Shares of SpiceJet Ltd ended at Rs 38.95, down by Rs 0.100, or 0.26 percent on the BSE.

No-frills carrier SpiceJet Ltd is likely to induct 7 Boeing 737 Max aircraft on wet lease in the next two months, sources privy to the developments told CNBC-TV18.

However, the airline is likely to induct two of the 7 Boeing 737 Max aircraft in October as the cap on SpiceJet’s operating capacity expires on October 29, 2022, sources privy to the developments told CNBC-TV18.

As per an order issued last month, the Directorate General of Civil Aviation (DGCA) had asked SpiceJet to operate at up to 50 percent of the number of flight departures approved under the summer schedule 2022 till October 29, 2022.

Winter schedule less hectic

Sources in the know told CNBC-TV18 that SpiceJet’s winter schedule flights are likely to be lesser than the summer schedule. The airline had around 600 flights in its summer schedule but has been operating at 50 percent after the DGCA cap was imposed.

Indian airline’s summer schedule commences from the last Saturday of March and goes up to the last Friday of October every year.

In the red

The Gurugram-headquartered budget carrier is facing an acute liquidity crunch for quite some time. SpiceJet posted a net loss of Rs 789 crore in the June quarter as well as Rs 458 crore for the quarter that ended in March 2022.

According to the airline, business was severely impacted by the third wave of the coronavirus pandemic and high fuel prices in the March quarter. In the June quarter, jet fuel prices rose 105 percent on a year-on-year basis and 40 percent on a sequential basis, the airline said.

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By Samy