Ministry sources say investors are looking at pumping in around Rs 1,100 crore
Claiming to be on top of all airlines in the country in terms of passenger load factor, infant budget carrier SpiceJet on Wednesday said it would add four more aircraft to its existing fleet of three Boeing airplanes by December to launch services in
Expanding its international operations, the airline will launch its daily direct flight to Saudi Arabia's capital Riyadh from January next year.
No-frills carrier SpiceJet has put ten lakh seats on the block with base fares starting as low as Rs 999, which are lower than a 3-AC train ticket, for a one-way journey under a limited period offer.
Shares of SpiceJet on Wednesday rose by over 19 per cent even as aviation regulator asked the no-frills carrier to immediately stop its offer of one-rupee fares across its domestic network.
Aviation stocks - Jet Airways, Deccan Aviation, SpiceJet and Jagson Airlines - closed at their 52-week highs on the Bombay Stock Exchange on Tuesday in falling market. All the four stocks gained between 5 per cent and 20 per cent on Tuesday.
Airline says it is in comfortable situation.
Reliance Industries Ltd is likely to import jet fuel for SpiceJet.
Budget carrier Go Airlines, which has rebranded itself as 'Go First', has filed preliminary papers for an initial share sale worth Rs 3,600 crore.
IndiGo and Jet Airways took the second and third rank, alternatively, during this period.
The DGCA official who wrongly assigned the code of Antonov AN-32 -- an aircraft used by the IAF -- to the SpiceJet aircraft has been suspended, report Arindam Majumder and Aneesh Phadnis.
Mallya recently acquired 26 percent stake in the country's largest budget airline, Air Deccan.
The pilot-in-command has been sacked for violating aviation regulator Directorate General of Civil Aviation's safety norms after following due process, SpiceJet said in a statement.
Ajay Singh, one of the founder directors of Spicejet, has left the board of the low-cost airline, paving the way for restructuring of the company by its new owner Kalanithi Maran, the promoter of Sun TV.
No-frills carrier SpiceJet is in active discussions with Singapore-based budget carrier Tigerair for a possible stake sale even as they are set to sign a code share agreement soon, sources said.
Various airlines, including the defunct Kingfisher, owed Rs 3,030 crore (Rs 30.30 billion) to the Airports Authority of India (AAI) at the end of December last year.
Signalling an imminent change in SpiceJet's ownership, potential investors including co-founder Ajay Singh and US-based JPMorgan have begun discussions with markets regulator Sebi over their investment plan for the cash-strapped airline.
Carrying on with its low-fare offers, SpiceJet has now started giving limited-period discounted tickets to flyers from Andhra Pradesh, Tamil Nadu and West Bengal.
It offers fares as low as Rs 1,499 for a one-way journey.
Key shareholders of low-cost airline SpiceJet have rejected an offer by the Reliance ADA Group to pick up a 51 per cent stake in the airline for Rs 40-45 per share. The offer was made last week.
The airlines were penalised for 'concerted action in fixing and revising Fuel Surcharge (FSC) for transporting cargo.'
Minority investors of SpiceJet might be feeling cold-shouldered.
The Forbes magazine had adjudged Maran as the 38th richest man in India, with a net worth of $2.3 billion (as of September).
SpiceJet promoter Kalanithi Maran would need to invest at least Rs 1,500 crore (Rs 15 billion) almost immediately to stabilise the airline.
SpiceJet has decreased its domestic services by 31 per cent to 2,995 weekly flights in the upcoming winter schedule as compared to 4,316 weekly flights that it got approved for the winter schedule of 2019, the aviation regulator DGCA said on Thursday. Meanwhile, Vistara, another private carrier, has increased its domestic services by 22 per cent to 1,675 weekly flights as compared to 1,376 weekly flights for 2019 winter schedule, the regulator added. The winter schedule begins on October 31 of a year and ends on March 26 next year.
SpiceJet is offering fares on Mumbai-Dubai route as a discount.
Some airlines, says Anjuli Bhargava, are convinced there's a conspiracy to malign them.
Sources said SpiceJet's deal with Boeing is worth around $1.4 billion as per the list price. When contacted, company officials, however, declined to comment on the valuation of the deal.
SpiceJet is planning to raise a total of $100 million for fleet expansion by the end of the current financial year, according to Siddhant Sharma, CEO of the Delhi-based budget carrier. Sharma's comments come just a day after the UK-based promoter-director of SpiceJet said he was willing to divest his 12.91 per cent stake in the airline if he got the right valuation.
Expanding its network in northern India, budget airlines Spicejet on Thursday launched its six-day a week service to Jammu and Srinagar.
After FY14's record loss, SpiceJet cuts capacity, chases costs, redraws flight schedules and puts more money in marketing to attract corporate travel.
Amid the debate over bailout for private carrier Kingfisher Airlines, SpiceJet chief Neil Mills on Monday said the government should not use taxpayers' money to revive a private sector company.
IndiGo, Jet, SpiceJet and GoAir demand level playing field in aviation policy, say government can't favour only two new airlines.
Global investment banking and securities firm Goldman Sachs has expressed interest in acquiring equity in Delhi-based SpiceJet even as top sources said talks for a merger with Kingfisher Airlines are on track.
Aviation companies plan to join hands for importing aviation turbine fuel (ATF) in a bid to bring down their fuel bills.
SpiceJet on Tuesday said the private equity firm led by billionaire Wilbur Ross will invest $80 million (about Rs 345 crore) in the low cost airline.
Other airlines are expected to follow suit.
The airline reported a loss of over Rs 1,000 crore last fiscal which is five times higher than its 2013 loss.
Singh holds more than 36.15 crore shares.
Spice Jet to start a series of daily flights from Coimbatore to Delhi, Mumbai and Hyderabad, will lauch services to Port Blair, Pune in October.
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