One man’s loss is another man’s gain, the proverb seem to fit in today’s scenario of airlines sector. Post the closure of Jet Airways, the shares of SpiceJet boomed by 15 percent on Wednesday.
After the rejection of plea for emergency funds from its lenders, Jet Airways suspended all flight operations indefinitely on Wednesday, potentially sinking of hopes for India's largest private airline.
However, to avoid the capacity crunch SpiceJet are taking all possible measures to contain the situation. SpiceJet Ltd Chairman Ajay Singh said on Thursday that the budget airline was taking "all possible proactive measures" to deal with capacity reduction in the aviation industry.
The airline in a statement also said, “SpiceJet will add six more Boeing 737-800 NG aircraft on a dry lease, in addition to the sixteen 737s and five Bombardier Q400s.”