"The rest will join in a phased manner by December 2007," SpiceJet CEO Siddhanta Sharma said after announcing the airline's network extension to South India from November 14.
Sharma and SpiceJet COO Peter A Hill said the carrier has also tied up with three US companies who would provide them with four new 737-800s from April-May next year.
Asked about the allocation for fleet acquisition, Sharma said "the listed price is $16 million for one aircraft."
The service was started in May 2003, with a fleet of three aircraft. Two more were added last year and with this the carrier operated 28 flights a day to 35 destinations carrying nearly 4500 passengers a day, Sharma said.
He claimed that since it began services, not a single flight had been cancelled. "We presently have 35 pilots, 10 over the requirement, including check pilots," he said.
On investment in the carrier, he said "we have invested about $40 million till now and allotted fresh equity to a US based financial institution to invest $12.5 million. We are also going to have foreign currency convertible bonds for $70-80 million." Besides NRIs, there are nearly 33,000 Indian shareholders, he added.
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