SpiceJet Ltd. has finalised a lease agreement to induct a wide-body Airbus A340 aircraft into its fleet, as per a company statement on Sept. 26.
The aircraft is expected to arrive in India by the end of September and begin operations in the first week of October. The airline is also in advanced discussions to lease a second A340.
Earlier this month, SpiceJet announced lease agreements for eight additional Boeing 737 aircraft, ahead of the winter schedule that begins in late October.
Previously, the company said that with the agreements for 8 Boeing 737 planes, its planned fleet additions would rise to 18 aircraft
However, a PTI report on Sept. 14 said that budget carrier SpiceJet has been delaying salary payments to a sizable number of its employees for the past few months. It added that SpiceJet employees drawing a salary of up to Rs 55,000 per month have received payment for August, while the rest of the staff have not been paid yet.
SpiceJet had 20 aircraft in operation, as on Sept. 25, out of the total fleet of 53 planes, as per fleet tracking website Planespotter.com.
In other news, the company informed the exchanges on Sept. 25 that the date for its board meeting to declare unaudited financial results for the second quarter and half-year ending September 30, 2025, will be announced in due course.
Spicejet's share price fell as much as 2.86% to Rs 29.50 apiece. It pared losses to trade 1.38% lower at Rs 29.95 apiece, as of 11:24 a.m. This compares to a 0.51% decline in the NSE Nifty 50 Index.
Out of four analysts tracking the company, one maintain a 'buy' rating, two recommend a 'hold,' and one suggest 'sell,' according to Bloomberg data.
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