Shares of low-cost carrier SpiceJet jumped as much as 5% to hit an intraday high of Rs 36 on Wednesday, December 10, extending their winning streak to a fourth straight session. With today’s advance, the stock has now climbed 19% over the same period.
The gains come after DGCA directed IndiGo to trim 10% of its winter flight schedule, a move triggered by a week of severe operational disruption that forced the carrier to cancel more than 5,000 flights due to a pilot shortage. With roughly 110 flights a day now expected to be reallocated to other airlines, the shake-up opens a window of opportunity for rivals such as SpiceJet to capture additional demand.
In a separate development, SpiceJet held an analyst meet on Tuesday. Post the interaction, domestic brokerage Prabhudas Lilladher noted that while the planned damp-lease inductions will provide a short-term lift to capacity, the airline’s real recovery hinges on bringing its grounded fleet back into operation — with eight Boeing aircraft expected to rejoin service by April 2026 — along with fresh aircraft additions. The brokerage added that ongoing negotiations with lessors over outstanding liab ..
The company also announced it has inducted two Boeing 737 aircraft into its fleet, further strengthening its operational capability and capacity across key domestic and international routes. Both aircraft have completed all regulatory formalities and have already entered commercial service. They commenced operations on November 26 and 29, respectively, and are currently deployed on key routes including Delhi-Bangkok, Ahmedabad-Dubai and Ahmedabad-Kolkata.
Last week, SpiceJet Chairman and Managing Director Ajay Singh said the airline would operate 100 extra flights over the next few days to assist stranded passengers. “What happened is extremely unfortunate, and it has caused huge inconvenience to passengers,” Singh said. “We are attempting to help by running 100 additional flights… We welcome the government’s decision to constitute a committee to investigate the issue.”
Despite today’s sharp rise, SpiceJet’s stock is down 38% on a year-to-date basis and remains close to its 52-week low of Rs 28.13.
Shares of InterGlobe Aviation Ltd., the parent of IndiGo, extended their slide today to record their ninth consecutive session of losses. The stock has now shed over 17% over eight sessions, erasing over nearly Rs 40,000 crore in market capitalisation, as investors reacted to the fallout from one of the worst episodes of air travel disruption in the country.