Spicejet share price

Low-cost airline SpiceJet has inked a deal with US-based FTAI Aviation to lease engines to revive its grounded fleet, sending its shares up 8%. What Happened: SpiceJet will lease 20 engines from FTAI Aviation, which will also provide maintenance services – a move that will likely improve operational efficiency and reduce aircraft downtime. SpiceJet said that the tie-up with FTAI will give it access to a robust pipeline of available engines and cut down the need for frequent shop visits, reducing maintenance expenses and improving overall performance. See Also: SpiceJet said the engines provided by FTAI will play a crucial role in supporting the reactivation of SpiceJet’s aircraft fleet over the next two to three months and help in servicing new routes and strengthening the airline’s resource allocation. “SpiceJet is slowly but surely progressing towards its goal of restoring its fleet and ensuring that our aircraft stay where they rightly belong to i.e. in the skies serving our passengers,” said Ajay Singh, chairman and managing director of SpiceJet. “Our partnership with FTAI Aviation is a step forward in that direction that would ensure that our fleet is up and running at all times without us worrying about engines or their maintenance. Quick and ready replacements will ensure that our planes are on the ground for minimal time.” SpiceJet had Go First was Price Action: SpiceJet shares were up 8% at ₹28.90 in morning trade on Thursday. Read Next:

Aircraft lessor Aircastle on Tuesday moved the National Company Law Tribunal (NCLT) with a second plea to start insolvency proceedings against budget carrier Aircastle had filed its first plea in April. The tribunal has asked the lessor’s counsel to present legal precedents of two pleas being filed by one plaintiff in the same case. NCLT will hear the matter on July 17. The NCLT on May 8 issued a notice on Aircastle’s plea and sought the airline’s response. SpiceJet had filed an application questioning the maintainability of Aircastle’s plea. The case will be heard on July 17. On Monday, Wilmington Trust had moved the NCLT against low cost carrier. The hearing in that matter has been deferred to next date. Last month, the Directorate General of Civil Aviation had deregistered three SpiceJet planes at the lessors’ request, one of which was Wilmington’s. On May 11, SpiceJet said it is taking steps to revive its grounded fleet using the $50 million it received from the government’s Emergency Credit Line Guarantee Scheme and internal cash accruals. The carrier has maintained that it has no intention of filing for insolvency and is focused on its business. “Wilmington Trust’s parent is Air Castle. Each of the four aircraft leased by Air Castle had a separate entity. One such aircraft was from Wilmington Trust, an affiliate of Air Castle,” a SpiceJet spokesperson had said on Sunday.

Shares of SpiceJet plunged 17.31 per cent to hit a low of Rs 23.21 on BSE. This was the sixth straight day of fall for SpiceJet shares. The stock has fallen 22.90 per cent during the period. SpiceJet promoters owned 58.98 per cent stake in the airline as on March 31. Out of that, 46.95 per cent of the holding was either pledged or otherwise encumbered. Earlier this month, SpiceJet announced plans to bring 25 of its grounded planes back into service. The airline on Tuesday said it is targeting the return of four of its grounded aircraft, two Boeing 737s and two Q400s, by June 15. More planes will be back in operations in the following weeks, it said. “SpiceJet plans to start a slew of flights including two international UDAN flights on the Agartala-Chattogram-Agartala and Imphal-Mandalay-Imphal sectors by June end. The airline also plans to launch a new UDAN flight on Kolkata-Tezpur-Kolkata sector and restart Kolkata-Gwalior-Kolkata and Jammu-Gwalior-Jammu UDAN flights. In addition, SpiceJet will launch flights on Kolkata-Agartala-Kolkata and Kolkata-Imphal-Kolkata sectors and restart flights on Kolkata-Chattogram-Kolkata sector,” the company said. In the case of peer Go First, the Mumbai-headquartered company sent the global aviation industry into a tizzy after it applied for a ‘voluntary bankruptcy resolution’ with NCLT on May 2, claiming that technical glitches with next-generation engines supplied by Pratt & Whitney had hit normal operations leading to mounting ...

Shares of SpiceJet that have been under pressure due to the company being involved in a legal battle, including an insolvency proceeding, jumped following its earnings. The stock was up 7 per cent on BSE. "We expect a healthy pick-up in aviation traffic in FY23-FY24E on the back of healthy demand for leisure travel in post-COVID era and factor in a 30 per cent CAGR in ASK over FY21-FY24E (vs. 27 per cent CAGR over FY18-20)," said Mitul Shah, Head of Research at Reliance Securities. “Considering improving cost structure, increasing contribution of highly profitable cargo segment, likely strong uptick in aviation traffic in post-COVID-19 era and attractive valuation, we maintain our BUY rating on SpiceJet, with a target price of Rs 105, valuing the stock at an EV/EBITDAR multiple of 4.5x FY24E.” In the insolvency matter, the Supreme Court had stayed the order of winding up by three weeks. The company said it is currently under a discussion with Credit Suisse AG and expects to settle the matter in the given time frame. In another matter, the company said it incurred a one-time expense of Rs 77.46 crore towards the manufacture of Q400 aircraft after a court order. “Our performance would have been much better but was impacted by the unexpected delay in the return to service of the 737 MAX, rising fuel costs and certain exceptional adjustments. I am happy to say that there are renewed signs of recovery in the passenger segment and the logistics segment continues to remain strong...

In its order dated September 21, the aviation regulator said that it is extending the restriction imposed on the budget carrier as a cautionary measure. In the meantime, SpiceJet shall be under 'enhanced surveillance' by the DGCA. Following the update, shares of SpiceJet plunged 5 per cent to Rs 39.80 on Thursday before recovering to Rs 40.2 at 9.50 am. The scrip had settled at Rs 41.85 on Wednesday. Shares of SpiceJet have been on a downward spiral for quite some time. The stock has dropped about 12 per cent in the last one month, whereas it has plunged 42 per cent in 2022 so far. While the airline had filed for 4,192 flights per week for the summer which is around 600 daily flights, industry sources said that the airline has been operating less than 300 flights for the last one month. DGCA had in the first week of July issued a show cause notice to SpiceJet for its failure to establish safe, efficient and reliable services following a spate of eight incidents within a month. Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp.

• SpiceJet is challenging an appeal to shut down the airline after consecutive years of losses made worse by the pandemic and rising cost of fuel. • Meanwhile, the mighty Tata Group and billionaire Rakesh Jhunjhunwala are preparing to join the race to dominate Indian aviation. • In 2015, its current Chairman and Managing Director Ajay Singh took over the airline for ₹2 a share, promising to turn it around, but now, in 2022, the fortunes aren’t looking any better. • Check out our The odds of SpiceJet’s survival are turning against the Gurugram-based low-cost airline with every passing day. Two years of losses, followed by a pandemic that brought business to a near standstill, and added more to the losses, leading up to a default of And up ahead this rocky road awaits a tight contest with the mighty Tata Group and billionaires like Rakesh Jhunjhunwala. Chairman Ajay Singh’s fight for his pride and the airline seems to be getting tougher. SpiceJet’s losses have more than tripled since 2019 Flourish chart The immediate challenges In December 2021, the Madras High Court had reportedly ordered the winding up of SpiceJet and asked the official liquidator to take over the airline’s assets. This happened after the company failed to pay dues of around $24 million to Switzerland-based SR Technics, which provided maintenance and repairing services to the airline for a decade. Adding to it, the airline barely has any money to Due to non-payment of tax dues, the tax authorities have ref...

SpiceJet Limited is engaged in the business of providing air transport services for the carriage of passengers and cargo and The Company’s segments include Air Transport Services, Freighter and Logistics Services and Other services. The Air transport services include, inter alia, passenger transport, and ancillary cargo operations arising from passenger aircraft operations. The Company is also o engaged in cargo business and operates on both domestic and international routes and is powered by fully integrated transportation network including air cargo, ground transportation and warehousing facilities across the country. Its cargo network spans over 53 domestic and 12 international destinations. It operates a fleet of Boeing, which includes 737-700s, 737-800s and 737-900ERs. It offers various services, such as foreign exchange service, travel assistance services. The Company’s subsidiaries include SpiceJet Merchandise Private Limited and Canvin Real Estate Private Limited.;

NAME P/E (x) P/B (x) ROE % ROCE % ROA % Rev CAGR [3Yr] OPM NPM Basic EPS Current Ratio Total Debt/ Equity (x) Total Debt/ CFO (x) -0.96 -0.44 0.00 -125.68 -18.25 -5.92 -17.92 -26.41 -29.01 0.25 -0.25 1.08 -304.38 -14.90 0.00 8.00 -0.51 14.28 5.19 -0.56 -7.93 1.10 -0.36 0.00 -0.57 -0.08 0.00 -7.99 -4.91 -45.83 0.50 -2.95 -56.03 0.50 -0.74 3.10 -5.34 3.09 -59.17 0.72 -2.16 -2.54 0.60 -4.04 -11.88 0.50 1.55 0.00 Add More About Spicejet Spicejet Ltd., incorporated in the year 1984, is a Mid Cap company (having a market cap of Rs 1,907.85 Crore) operating in Airlines sector. Spicejet Ltd. key Products/Revenue Segments include Income (Airlines), Cargo Income and Other Operating Revenue for the year ending 31-Mar-2022. For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 2,822.38 Crore, up 34.28 % from last quarter Total Income of Rs 2,101.80 Crore and up 5.42 % from last year same quarter Total Income of Rs 2,677.34 Crore. Company has reported net profit after tax of Rs 110.12 Crore in latest quarter. The company’s top management includes Mr.Ajay Singh, Mr.Ajay Singh, Mr.Ajay Singh, Mrs.Shiwani Singh, Mrs.Shiwani Singh, Mrs.Shiwani Singh, Mr.Ajay Aggarwal, Mr.Ajay Aggarwal, Mr.Ajay Aggarwal, Mr.Anurag Bhargava, Mr.Anurag Bhargava, Mr.Anurag Bhargava, Mr.Manoj Kumar, Mr.Manoj Kumar, Mr.Manoj Kumar, Mr.Ashish Kumar, Mr.Ashish Kumar, Mr.Ashish Kumar, Mr.Chandan Sand, Mr.Chandan Sand, Mr.Chandan Sand. Company has Walker Chandiok & Co. LLP as i...