6 hrs ago
Government and DGCA Monitor SpiceJet Amid Financial, Fleet Strain
SpiceJet is a budget airline facing financial and operational problems.
The government and aviation regulator are watching the airline closely.
SpiceJet’s domestic market share fell from 1.9% in June to 1.6% in July.
Its market share has also declined from 3.9% in February.
The airline had 11 operational aircraft according to fleet-tracking data.
Sources said some employees have not received their salaries since May.
SpiceJet’s shares fell by 5.32% on Thursday.
The airline says it has arranged leases for 20 more planes.
These planes are expected to join the fleet before the busy winter travel period.
The Civil Aviation Ministry and DGCA are closely monitoring SpiceJet’s finances and operations.
SpiceJet’s domestic market share fell to 1.6% in July from 1.9% in June.
The airline had 11 operational aircraft, according to planespotters.net data.
Sources said several SpiceJet employees have not received salaries since May.
SpiceJet plans to add 20 leased aircraft between mid-October and mid-November for the winter schedule.
- Who
- SpiceJet, the Civil Aviation Ministry, the Directorate General of Civil Aviation, and Civil Aviation Minister K Rammohan Naidu.
- What
- The government and aviation regulator are monitoring SpiceJet amid financial difficulties, a smaller operational fleet, declining market share, and reported salary delays.
- Where
- Naidu made the statement on the sidelines of a conference in New Delhi; SpiceJet operates domestic and international services.
- When
- The monitoring statement was made on Thursday; the market-share figures compare June and July, while the planned aircraft additions are scheduled from mid-October to mid-November.
- Why
- SpiceJet is under financial and operational pressure, including reduced capacity and falling domestic market share.
Key facts
- July domestic market share
- 1.6%, down from 1.9% in June
- February domestic market share
- 3.9%
- Operational fleet
- 11 aircraft, according to planespotters.net data
- Reported salary delays
- Sources said several employees have not received salaries since May
- Share price movement
- SpiceJet shares fell 5.32% to ₹8.89 on Thursday
- Planned aircraft additions
- 20 aircraft: 15 Boeing and five Airbus planes
- Expected induction period
- In phases from mid-October to mid-November, ahead of the winter travel peak
Quotes
K Rammohan Naidu
India’s Civil Aviation Minister
“The civil aviation ministry and the DGCA are keeping a close watch on the financials and operations side of SpiceJet”
indianexpress.com
freepressjournal.in
SpiceJet
The budget airline
“The aircraft are scheduled to join the fleet in phases between mid-October and mid-November, ahead of the winter travel peak beginning with the Durga Puja period. The induction will strengthen capacity across SpiceJet's domestic and international network and provide additional capacity through the winter and the following peak summer travel season”
freepressjournal.in
Sources
Related news
SpiceJet's Domestic Market Share Falls to Decade Low in July
India’s July Domestic Air Traffic Falls as IndiGo Gains Share
SpiceJet's Latest Reprieve Demands a Credible Recovery Plan
SpiceJet Ends Boeing 737 MAX Operations Amid Financial Crisis
Indian Airlines Cut Capacity Ahead of Festive Season
SpiceJet Plans 200 Daily Flights With 20 Leased Aircraft
Thales Positions Itself for India’s Booming Aviation Growth
DGCA Orders One-Time Drug Tests for Pilots by July 2027
Singapore Leaders Condemn Wave of Anti-Indian Racist Trolls
Singapore Airlines’ Air India Stake Revives Scrutiny of Overseas Investments
