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SpiceJet to add five 90-seater Bombardier Q400 aircraft in fleet, shares up 6%

SpiceJet to add five 90-seater Bombardier Q400 aircraft in fleet, shares up 6%

SpiceJet to add five 90-seater Bombardier Q400 aircraft in fleet, shares up 6%
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By CNBC-TV18 Apr 16, 2019 10:16:16 AM IST (Updated)

Budget airline SpiceJet said on Tuesday it will add five 90-seater Bombardier Q400 aircraft

Budget airline SpiceJet said on Tuesday it will add five 90-seater Bombardier Q400 aircraft, increasing its Bombardier fleet size to 32. Out of the five additional aircraft, three will be a part of the airline's fleet in the next 10 days and the remaining two will be in the fleet by June.

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Last week, the airline announced the induction of 16 Boeing 737-800 NG aircraft on dry lease.
SpiceJet shares traded over 6 percent higher at Rs 126.60 per share.
In March, many countries grounded their Boeing 737 MAX aircraft, over safety concerns, after the model was involved in two air crashes. SpiceJet has around 12 Boeing aircraft in its fleet, which are still grounded.
Not only this, the Indian aviation sector has been in a soup after Jet Airways has almost pulled itself out of the market as it continues to grapple with debt and implement its resolution plan.
“The sudden reduction of aviation capacity should in no way hamper air connectivity to the smaller towns and cities of India and as the country’s largest regional operator, SpiceJet will make all possible efforts in this direction," Ajay Singh, chairman and managing director of the airline,  said.
The new 90-seater variant is part of SpiceJet’s second purchase order for up to 50 Q400 turboprops placed in September 2017. This was the largest ever single order for the Q400 turboprop aircraft program valued at up to $1.7 billion. The airline has already inducted five planes as part of this order.
Apart from the 90-seater variant, SpiceJet also operates a 78-seater variant of the same aircraft. Besides the Q400 fleet, SpiceJet has a fleet of 48 Boeing 737s and one B737 freighter.
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