The airline has already finalized a lease agreement for these aircraft. Further they are scheduled to join the fleet in September 2023. Among the ten aircraft, five will be Boeing 737 MAX jets.
SpiceJet inducting Ten Boeing 737s
SpiceJet is actively engaged in the process of restoring and bringing back its grounded aircraft to operational service. Further, with the expectation that they will soon be back in service.
“There has been a significant surge in passenger demand. We anticipate this increased demand to persist throughout the latter part of the year. As a result, SpiceJet has been strategically planning to expand its capacity to meet the growing requirements of the Indian aviation market,” stated Ajay Singh, Chairman and Managing Director of SpiceJet.
“We have plans to introduce ten Boeing 737s aircraft between September and October 2023. The timing of this aircraft induction aligns with the peak travel season in India. Further enabling us to launch new routes and strengthen our presence on existing ones,” added Singh.
SpiceJet currently operates approximately 250 flights per day, serving 48 destinations within India as well as international destinations. Further, the airline’s fleet comprises a variety of aircraft types, including the Boeing 737 Max, Boeing 700, and Q400s.
Collaborates with FTAI for Fleet Revival
SpiceJet highlighted the significance of the partnership with FTAI Aviation in a statement. Further, the airline can now revive 25 grounded aircraft by securing access to the engines.
This effort is being funded through a combination of the airline’s own capital and a $50 million line of credit obtained through an Indian government scheme. Further, the strategic decision to lease engines from FTAI Aviation underscores SG’s commitment to efficiently restoring its operations.
By leveraging the expertise and resources of the engine services provider, the airline aims to swiftly and effectively address its fleet’s maintenance and operational requirements.
This development brings relief to stakeholders, as SpiceJet reassures that it has no plans to file for insolvency. Subsequently, the assurance follows concerns raised after its competitor, Go First (G8), recently filed for voluntary bankruptcy.
With SpiceJet’s proactive measures to revive its grounded fleet and the collaboration with FTAI Aviation, the airline demonstrates its determination to navigate through challenging times.
SpiceJet Returned Corendon Boeing 737s
SpiceJet (SG) Airlines has returned all eight Boeing 737s taken on wet lease from Turkey-based leisure carrier Corendon Airlines (XC).
Wet leasing airplanes appear to be the current trend in India, as two of the country’s largest budget airlines (IndiGo and SpiceJet) have embraced this approach.
The Indian carrier added eight Boeing 737s on wet lease from Corendon in the last quarter of 2022 and one in Jan 2023. Subsequently, to fulfill the high travel demand created by festive seasons.
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