LCC stocks finish week lower
LCC stock prices were weaker on Friday, with the most significant falls at JetBlue Airways (-4.2%), SpiceJet (-3.8%), Skymark Airlines (-3.8%) and easyJet (-2.6%). Indian carrier SpiceJet has announced that Hyderabad's Rajiv Gandhi International Airport will be the first base for its foray into turboprop operations, using Q400s to serve smaller Indian cities.
The purchase of the 15 Q400s will be funded by a loan from Export Development Canada, with all aircraft to join the carrier's fleet by Jul-2012. SpiceJet aims to have a fleet of 70 aircraft by the end of 2013 with a mix of 45 Boeing and 25 Bombardier aircraft. SpiceJet CEO Neil Mills stated the carrier would adopt a two-pronged strategy – increasing airfares and improving efficiency – to improve its margins.
Selected LCC share price movements (% change): 08-Apr-2011