Notably, the freight arm turned a 30 crore (4mn) profit in the. This means it will be eligible for dividends and contracts from SpiceXpress, providing a steady stream of revenue for the debt-saddled passenger business. (Disclaimer: This story is auto-generated from a syndicated feed only the image & headline may have been reworked by www.republicworld. SpiceXpress is valued at 2,555.77 crores (336.5mn), and SpiceJet will get the equivalent shares in the new airline. "In view of the findings of various spot checks, inspections and the reply to the show cause notice submitted by SpiceJet, for the continued sustenance of safe and reliable transport service, the number of departures of SpiceJet is hereby restricted to 50 per cent of the number of departures approved under summer schedule 2022 for a period of eight weeks," the aviation regulator's order on Wednesday said. On Wednesday, the airline had said there will be no flight cancellations because of the regulator's order as it is already operating limited services "due to the current lean travel season". On Thursday, SpiceJet said it is confident of scaling up its operations and addressing concerns of the DGCA. The spokesperson further added that the company will make.
The company continues to be in discussions with various investors to secure sustainable financing, a SpiceJet spokesperson was quoted as saying by CNBC TV18.
The 30-share BSE benchmark jumped 1,041.47 points or 1.87 per cent to settle at 56,857.79.Ībout 10.42 lakh shares of the company were traded on the BSE.Īviation regulator DGCA on Wednesday ordered SpiceJet to operate a maximum of 50 per cent of its flights for eight weeks after several of its planes reported technical malfunction recently.ĭuring these eight weeks, the budget carrier will be subjected to "enhanced surveillance" by the Directorate General of Civil Aviation (DGCA). Singh, who currently holds 60 per cent stake at SpiceJet, is exploring possibilities of a partial sale of the same. During the day, it tanked 9.66 per cent to its 52-week low of Rs 34.60. The stock trimmed most of its early losses and settled at Rs 36.95, down 3.52 per cent on the BSE.
In morning trade, the stock had tanked nearly 10 per cent. While it may all be nice on paper to see how much the stake is valued at, the real question to answer would be how much money. The weakening of the Indian rupee against the US dollar further significantly impacts airlines as our substantial cost is either dollar-denominated or pegged to the dollar," Singh said.New Delhi, Jul 28 (PTI) Shares of SpiceJet settled over 3 per cent lower on Thursday after the company was asked by aviation regulator DGCA to curtail its services by half for eight weeks. "We have in the last few months tried to absorb as much burden of this fuel price rise, which constitutes more than 50% of our operational cost, as we could. SpiceJet will connect Nashik with Hyderabad and Delhi with Khajuraho under the central governments UDAN Scheme Low-cost airline SpiceJet on July 19. The airline's CMD Ajay Singh said that aviation turbine fuel prices have gone up by more than 120 per cent since June 2021, while adding this increase in ATF is sustainable for airlines and central and state governments need to take action to reduce taxes. SpiceJet announces 26 new domestic flights from July 22. TimesNow: WATCH SpiceJet flight delay resulted in a scuffle between passengers and officials at Ahmedabad airport. SpiceJet has expressed concerns over the hike in ATF prices. Stocks in news: State Bank of India, UPL, EKI Energy, NBCC and more
And it may not be surmountable unless approach to renegotiate contracts and lease. For domestic airlines, ATF cost Rs 1,41,232.87 per kl in Delhi Rs 1,46,322.23 per kl in Kolkata Rs 1,40,092.74 per kl in Mumbai and Rs 1,46,215.85 per kl in Chennai. SpiceJet myriad of challenges from restoring salaries to paying lessors. Market cap of the firm fell to Rs 66,720 crore on BSE.Īfter the current hike, jet fuel prices have reached an all-time high. InterGlobe Aviation stock has lost 0.23 per cent in a year and fallen 14.13 per cent this year.Ī total of 0.43 lakh shares of the firm changed hands amounting to a turnover of Rs 7.40 crore on BSE.
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