SpiceJet, the popular Indian low-cost airline, is set to undergo a significant expansion with the addition of 10 new aircraft by the end of November 2024. This growth has been confirmed through a recent statement released by the airline on October 8, 2024. Out of the 10 new airplanes, seven have been secured through lease agreements, while the remaining three are being reintroduced after previously being out of service.

The leased aircraft are on track to join the SpiceJet fleet by November 15, 2024, with two of them already having arrived in India. Additionally, the three inactive Boeing 737s will be back in operation by the end of November. This boost in fleet size aims to meet the rising demands for air travel and enhance operational capabilities, as expressed by Ajay Singh, the Chairman and Managing Director of SpiceJet who stated, “This addition is crucial as we continue to meet the growing demand for air travel while strengthening our operational capabilities."

Moreover, SpiceJet recently announced a successful capital raise of Rs 3,000 crore (around $360 million) through a Qualified Institutional Placement (QIP) in September 2024. An additional funding strategy is expected to bring in Rs 736 crore ($87.6 million) further solidifying the airline’s financial standing. This positive news led to a surge in SpiceJet’s share prices on October 8, 2024, signaling optimism for the carrier's future.

Currently, SpiceJet's fleet comprises 17 aircraft, including a mix of Boeing 737s, DHC-8-Q400s, and a single 737-900. Though recent settlements have been made with Engine Lease Finance Corporation (ELFC), some outstanding claims by other entities like Aircastle and Alterna Aircraft are yet to be resolved.

The upcoming expansion and financial injections are positioning SpiceJet for growth, improved services, and an expanded route network. Stay tuned for more aviation news and updates by subscribing to Pilotcenter.net News for exclusive content!