SpiceJet to lease single-aisle aircraft
The Dollar Business Bureau SpiceJet plans to introduce 100 narrow-body planes in the coming months as it seeks to maximise on growing demand in the Indian domestic aviation circuit. Ajay Singh, Chairman and Managing Director of SpiceJet has assured that his airline has begun the road to recover growth with a “clean slate.” He also stated that its old financial issues stand addressed and that the airline is likely to grow in the days to come. In the quarter ending March 2016, the airline saw a three-fold growth in its net profit, which stood at Rs.73.19 crore. Higher revenues and lower fuel cost have helped the Ajay Singh-owned airline remain profitable for straight five quarters. It took a one-time hit of Rs.173 crore for the purpose of stabilising and improving its fleet reliability during Q3, FY2016. The ...
