Reportedly a top company official said on Tuesday as it moves to expand its global presence, budget carrier SpiceJet plans to aggressively augment capacity by 80 per cent during the current fiscal. Furthermore SpiceJet Chief Financial Officer (CFO) kiran Koteshwar told as per the plan, the airline will induct 60 aircraft, including 30 from the recently grounded Jet Airways.
Koteshwar said "We plan to expand our total capacity by 80 per cent during this (financial) year". "We have already inducted 22 aircraft from lessors of Jet Airways. We plan to induct another eight aircraft from the lessors within the next 10-15 days." Further aircraft from Jet's lessors, the airline will add another 30 planes as part of the planned inductions. According to Koteshwar, the airline expects the 13 grounded Boeing 737 MAX aircraft to enter service after the global ban on these planes is lifted.
Moreover the airline has, however, not yet received any reimbursements or compensation for the grounded Boeing 737 MAX aircraft. Apparently high fares caused by capacity constraint and slowdown in economic activity have subdued passenger traffic. The growth rate of this high frequency indicator is usually 1.3-1.4 times the gross domestic product (GDP) growth of the country.
