Spicejet celebrates UAE’s 44th National Day. Comes up with new offers.
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| Spice jet is flying high |
The Spicejet offer with one-way base fares starting at AED 244 are for travel from Dubai to Mumbai, Kochi and Kozhikode while base fares starting from AED 344 would be applicable for travel from Dubai to Delhi, Ahmedabad, Amritsar, Madurai and Pune.
Spicejet offer: Highlights
* Booking period: 29th November – 3rd December, 2015 midnight
* Travel Period: 01st February – 29th October 2016
Limited seats, offer available on First-Come-First-Served basis
Ajay Singh, Chairman & Managing Director, SpiceJet, said, “Dubai is SpiceJet’s key international market. We will continue to increase our presence here. Our customers can expect many more flights and many more exciting offers in the coming months.”
Bookings On: NC Airways
Tickets under this offer are non-refundable but changeable at AED 130 (approximately equivalent to Rs 2,350).
SpiceJet to order over 150 planes in current fiscal
SpiceJet CMD Ajay Singh said that the firm is in the process of placing a large aircraft order. Such an investment would cap a remarkable turnaround for Spicejet by market share, which had came close to collapse late last year after running out of cash. (See Spicejet)
Co-founder Ajay Singh brought life back into the airline after acquiring a controlling stake. Earlier this month, SpiceJet reported a small net profit for the July-September period, helped by sliding fuel costs and surge in passenger traffic. SpiceJet has reported profits in the past three quarters, having made losses in the five preceding quarters. It is also facing a legal issue with "Unfair Business Practitioner" tag along with Indigo and Jet airlines. (See "Could have been penalised")
While addressing a news conference in Dubai, SpiceJet CMD Ajay Singh shared his Company's well laid out plans -
- The company is in healthy shape. It is generating cash, it's profitable. If oil prices remain moderate; this profitability should continue in the coming quarters.
- The airline is generating enough money internally. It also has unused credit lines that could be utilised to pay for the aircraft.
- SpiceJet has no need to dilute equity to pay for the purchase of the planes.
- This isn't the right time to sell a stake as the shares remain undervalued
- Some of the Gulf airlines have started expressing an interest in SpiceJet.
- There is some dialogue with them and to explore other types of relationships.
- Both Airbus A320 Neo and Boeing 737 Max being considered. The order would be with a single manufacturer to buy more than 150 planes
- Manufacturer to be decided by March 2016.
- Company intends to more than quadruple the carrier’s fleet from 41 aircraft at present.
- SpiceJet also has "regional aircraft business" servicing India's smaller cities through a fleet of 14 Bombardier planes.
- The airline is in talks with Toronto-listed Bombardier, France's ATR - a joint venture between Airbus and Finmeccanica - and Brazil’s Embraer to potentially buy a further 50 planes to service this sector.
It could jump another 300%, analysts feel, when partners from the Gulf start investing in Spicejet. (See Spicejet is world's best)