SpiceJet takes important steps toward rebuilding its narrowbody fleet
India's Spicejet has secured deals to boost its operational fleet, signalling that the airline's efforts to raise more funds may help it to reverse its decline and move closer to its former scale.
The key to the improvement in the airline's outlook is the successful completion of a capital raise.
This was quickly followed by the announcement that it will add 10 more aircraft to its fleet, comprising new leases and the reactivation of some grounded aircraft.
SpiceJet's fragile financial condition has been a major handicap for the company, forcing it to keep a large proportion of its fleet grounded, and shrinking its market share.
It has fallen further behind its larger domestic rivals as they pursue ambitious growth plans.
But while challenges remain, the fundraising and fleet additions are welcome signs of progress.
Become a CAPA Member to access Analysis Reports
Our Analysis Reports are only available to CAPA Members. CAPA Membership provides exclusive access to in-depth insights on the latest developments in the aviation and travel industry, developed by our team of dedicated analysts located in Europe, North America, Asia and Australia.
Each report offers a fresh perspective on the latest industry trends and is available online or via the CAPA mobile app, with customisable alerts to help you stay informed and identify new business opportunities.
CAPA Membership also provides access to our full suite of tools, including a tailored selection of more than 1,000 News Briefs every week and comprehensive data and analysis on thousands of companies around the world.