SpiceJet’s Revival Hinges on Ungrounding And Fleet Expansion — Read PL Capital Report

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

PL Capital Report

PL Capital, in its latest analyst meet update, highlighted that SpiceJet’s turnaround strategy rests on two critical pillars—ungrounding of aircraft and damp lease additions.

While the brokerage has kept the stock Not Rated, it notes encouraging progress on both fronts.

As of Q2 FY26, SpiceJet operated 19 aircraft. Recent additions under damp lease have boosted operational strength, with 14 aircraft inducted in October and November 2025 and two more expected in December, taking the fleet to 34 aircraft.

Additionally, one grounded Boeing 737 MAX has returned to service. This expansion is expected to triple Available Seat Kilometers (ASKM) by year-end, providing near-term capacity relief.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.