SpiceJet finalises lease agreements for 10 aircraft

SpiceJet on Thursday said it has finalised lease agreements for 10 planes as the no-frills airline looks to expand its capacity.

It has also received three airframes as part of recent settlement agreements.

An official in the know said the airline is also in talks with lessors regarding eight aircraft whose leases are expiring this month. Of these, the carrier is looking to retain at least six planes, the official added.

Besides, the official said two aircraft that were grounded are back in operation.

Currently, SpiceJet has more than 30 planes in its fleet. In a release on Thursday, the airline said it has finalised lease agreements for 10 planes.

According to the release, it has received three airframes as part of recent settlement agreements and these have also resulted in savings of Rs 685 crore for the airline. Airframe refers to an aircraft without engines.

Shares of SpiceJet rose 6 per cent to Rs 53.39 apiece in the morning trade on the BSE.