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06-Apr-2011 3:58 PM

SpiceJet shares up strongly

Analysis

Shares in Indian LCC SpiceJet spiked 7% yesterday, on heavy afternoon trading. The jump follows an announcement on Monday that KAL Airways Pvt, the carrier's controlling shareholder, has pledged 38.4% of its holding in the low-cost carrier.

Summary
  • SpiceJet's shares rose by 7% following the announcement that KAL Airways has pledged 38.4% of its holding in the low-cost carrier.
  • KAL Airways has pledged 31.25 million shares, accounting for 14.8% of SpiceJet's total share capital.
  • IndiGo Airlines and Hong Kong Aviation Capital have closed a sale and leaseback deal for a new A320 aircraft, with financing from China Development Bank.
  • Hong Kong Aviation Capital now has a total of eight A320s on lease to IndiGo Airlines.
  • The share price movements of selected LCCs on 5th April 2011 were significant.
  • For more details, refer to the related report on Hong Kong Aviation Capital and IndiGo Airlines' sale and leaseback deal on a new Airbus A320.

KAL Airways has pledged 31.25 million of its shares, which accounts for 14.8% of the carrier's total share capital.

Elsewhere in India, IndiGo Airlines and Hong Kong Aviation Capital closed the sale and lease back of a new A320 with financing from China Development Bank. HKAC now has a total of eight A320s on lease to IndiGo. See related report: Hong Kong Aviation Capital and IndiGo Airlines close sale and lease back on new Airbus A320

Selected LCC share price movements (% change): 05-Apr-2011

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