- Shares of SpiceJet surged 10% following plans to add three Airbus A320 aircraft on damp lease
- All three Airbus A320 aircraft have arrived in India and will start operations this week
- The new aircraft will support network expansion and meet rising passenger demand
Shares of SpiceJet Ltd. surged 10% on July 23 after the budget carrier announced plans to induct three Airbus A320 aircraft on a damp lease, signalling fresh momentum in its fleet expansion strategy.
The stock rose to Rs 12.32, its intraday high, after the company said all three aircraft have already arrived in India and are scheduled to commence commercial operations later this week.
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According to a company statement, the additional aircraft will support network expansion and help the airline meet rising passenger demand. SpiceJet also said it is in advanced discussions with other lessors to induct more aircraft over the coming months, indicating that the latest fleet additions could be the first in a broader expansion drive.
A damp lease typically involves leasing an aircraft along with maintenance services, while the airline provides its own crew for operations.
The announcement comes as SpiceJet continues efforts to strengthen its fleet and improve capacity after a prolonged period of operational and financial challenges. The induction of additional aircraft is expected to enhance flight availability, improve network connectivity and support the airline's plans to capture higher travel demand.
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