Monday, August 14, 2017

SpiceJet to use sale and leaseback route for aircraft induction

SpiceJet will use the ‘sale and leaseback’ route to admit about a-sixth of the new 275 aircraft. The company’s decision is in line with its goal to stay asset-light, reported a national daily.

In the three years till 2020, the airline has a firm schedule to induct 30 Boeing 737s and 18 Bombardier Q400s, out of the ordered 275 aircraft consisting of 225 Boeing 737s and 50 Bombardier Q400s.

 In the sale and leaseback model, the airline sells the aircraft at the time of delivery to a lessor at a premium from the ordered price and then inducts the planes in its fleet on lease.

Meanwhile, the stock on BSE jumped 3.73% to Rs 119.55 per share on BSE at 11:36 hours. The stock on yearly basis has given 96.78% returns and has outperformed BSE Mid-cap index.
14/08/17 IndiaInfoline