SpiceJet gathers more than 7% by announcing new routes

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SpiceJet will begin a flight from Mumbai to Jharsuguda to Odisha from September 17th.

Shares of the low-cost airline, SpiceJet, rose 7.5% to an intraday high of Rs 77.40 after the company announced flights on new domestic and international routes. The Gurugram-based air operator announced a new daily direct flight from Mumbai to Kishangarh (Ajmer) and a return flight from Kishangarh (Ajmer) to Mumbai.

SpiceJet will begin a flight from Mumbai to Jharsuguda in Odisha from September 17, the company announced on the microblogging site Twitter. The flight will operate every Tuesday, Friday and Sunday.

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The company also announced additional direct flights on the Mumbai-Delhi and Mumbai-Goa routes. In addition to direct flights, SpiceJet has also added a one stop flight from Mumbai to Dharamshala in Himachal Pradesh.

In another development, SpiceJet has struck a deal with another Boeing Co MAX lessor, CDB Aviation, as it appears to start operating the aircraft by the end of September after India cleared the 737 MAX. to fly last month.

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The 737 MAX was grounded around the world in March 2019 after two fatal crashes in five months left 346 people dead, plunging Boeing into a financial crisis, which has since been made worse by the pandemic.

In August, the Directorate General of Civil Aviation said it had authorized the flight of the 737 MAXs with immediate effect, after nearly two and a half years of regulatory downtime.

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SpiceJet said in August that it expected the stranded 737 MAX jets in its fleet to return to service in late September after an agreement with lessor Avolon to lease the aircraft.

At 1.35pm, SpiceJet shares were trading 5.42% higher at Rs 75.85, outperforming Sensex which was up 0.75%.

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