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SpiceJet shares fly 3% in trade; here's what is boosting investor interest
The company's market capitalisation stood at ₹5,199.75 crore. Its 52-week high was at ₹79.9 per share and 52-week low was at ₹38.83 per share.
Why are SpiceJet shares buzzing in trade?
The buying on the counter came after the company received its first two overhauled engines and ungrounded another Boeing 737 NG aircraft.
These include a CFM LEAP‐1B engine that powers the Boeing 737 MAX, overhauled at StandardAero's Houston, US facility, and one Q400 engine, received from StandardAero's Singapore facility.
Six CFM LEAP‐1B engines were sent to StandardAero's Houston facility, while seven Q400 engines had been sent to its Singapore facility.
Additionally, four engines have been sent to Carlyle Aviation to support the revival of grounded Boeing 737 NG aircraft.
The airlines also ungrounded another Boeing 737 NG aircraft, which returned to active service last month, reinforcing SpiceJet's commitment to restoring fleet capacity in a structured and phased manner.
As part of its broader fleet revival plan, a total of 17 engines were sent for overhaul. With the receipt of the first two engines, SpiceJet expects a steady flow of additional engines in the coming months.
In Q4, Budget carrier Spicejet's standalone profit after tax surged nearly three-fold to ₹324.87 crore as compared to a PAT of ₹119 crore in the fourth quarter of FY24, according to a regulatory filing.
However, the revenue from operations for the reporting quarter declined 16 per cent year-on-year (Y-o-Y) to ₹1,446.37 crore from ₹1,719.3 crore in Q4 FY24.
About SpiceJet
SpiceJet is an airline that operates a fleet of Boeing 737s and Q‐400s and is one of the countryʹs largest regional players operating multiple daily flights under UDAN or the Regional Connectivity Scheme. The majority of the airlineʹs fleet offers SpiceMax, the most spacious economy‐class seating in India.
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