SpiceJet chairman optimistic Indian aviation sector 'will regain lost momentum'

SpiceJet chairman and MD Ajay Singh attributed (13-Nov-2019) the LCC's losses in Q2FY2019/2020 partly to a seasonally weak quarter and decelerating growth in India's aviation sector, stating: "With the industry's growth rate slowing down in the past few months the impact is evident on the bottom line. We, however, remain optimistic that the sector will regain the lost momentum as the inherent demand remains very strong". Mr Singh also noted the continued grounding of SpiceJet's 13 Boeing 737 MAX 8s "has hit our growth plans adversely and resulted in inefficient operations and as a result, increase in costs". He reported the LCC "added 37 planes to our fleet in the past six months" and said "The likely return to service of the 737 MAX early next year...would mean that SpiceJet has at its disposal more than 25 brand new planes". [more - original PR]