SpiceJet resolves ₹413 cr dispute with Echelon Ireland Madison One
Shares of SpiceJet rose 4% to ₹65.40 in intraday trade on the BSE.
Shares of SpiceJet rose 4% to ₹65.40 in intraday trade on the BSE.
Calling it a “strategic move”, SpiceJet says the collaboration will generate synergies between the two carriers, and improve cost management, revenue growth
Through the cost-cutting move, SpiceJet says it'll have an annual saving of up to ₹100 crore
The budget airline's stock soared 9% in intraday trade today to hit a high of ₹58.30 on the BSE.
The low-cost carrier recorded the highest domestic passenger load factor of 90% in the first quarter owing to a strong demand for air travel in India.
Delhi HC directs SpiceJet to pay ₹579 cr award, along with interest, to airline's former promoter Kalanithi Maran
The budget airline has seen a consistent drop in its domestic market share in 2023
The move paves the way for SpiceXpress to raise funds independently.
The low-cost airline's board also proposed raising fresh capital of up to ₹2,500 crore by issuing securities to qualified institutional buyers.
Shares of SpiceJet jumped as much as 13% to ₹40 apiece on the National Stock Exchange (NSE).