India’s airlines have been making the most out of the vacuum created by the grounding of the country’s oldest private carrier ,Jet Airways, over a month ago.
Almost all of them have been vying for Jet’s prime slots, expanding their fleets, and adding new routes. It is budget carrier SpiceJet, though, that is poised to score most, according to a recent report by the investment management firm JM Financial.
The sector watchdog, the directorate general of civil aviation (DGCA), has allocated 130 airport slots from Jet’s portfolio to the airline, including 68 prime slots at Mumbai. This is higher than the number of such slots wrested by any airline, including market leader Indigo’s 120.
“Availability of additional slots will aid SpiceJet to optimally utilise its increased fleet size,” read the JM Financial report.
Yesterday (May 26), the no-frills carrier added its 100th aircraft to its fleet, becoming the fourth domestic airline to do so after IndiGo, Jet Airways, and state-owned Air India. “SpiceJet has added 23 planes and over a 100 new flights, most of them connecting the key metros of Mumbai and Delhi, in just over a month’s time,” it said in a statement.
Aiding the expansion has been the fact that SpiceJet and Jet Airways both operate Boeing aircraft. Since Jet’s grounding, 20 aircraft from its fleet has been handed over to SpiceJet by lessors.
“In the next two years, Indigo, SpiceJet, GoAir are expected to add 94, 42, and 25 aircraft (respectively), while Vistara and Air Asia may add 20 each,” JM Financial said in its note. Despite lagging IndiGo in fleet expansion, the firm expects SpiceJet to clock “disproportionate growth (in profitability)” relative to its current size.
27/05/19 Niharika Sharma/Quartz
To Read the News in full at Source, Click the Headline
Almost all of them have been vying for Jet’s prime slots, expanding their fleets, and adding new routes. It is budget carrier SpiceJet, though, that is poised to score most, according to a recent report by the investment management firm JM Financial.
The sector watchdog, the directorate general of civil aviation (DGCA), has allocated 130 airport slots from Jet’s portfolio to the airline, including 68 prime slots at Mumbai. This is higher than the number of such slots wrested by any airline, including market leader Indigo’s 120.
“Availability of additional slots will aid SpiceJet to optimally utilise its increased fleet size,” read the JM Financial report.
Yesterday (May 26), the no-frills carrier added its 100th aircraft to its fleet, becoming the fourth domestic airline to do so after IndiGo, Jet Airways, and state-owned Air India. “SpiceJet has added 23 planes and over a 100 new flights, most of them connecting the key metros of Mumbai and Delhi, in just over a month’s time,” it said in a statement.
Aiding the expansion has been the fact that SpiceJet and Jet Airways both operate Boeing aircraft. Since Jet’s grounding, 20 aircraft from its fleet has been handed over to SpiceJet by lessors.
“In the next two years, Indigo, SpiceJet, GoAir are expected to add 94, 42, and 25 aircraft (respectively), while Vistara and Air Asia may add 20 each,” JM Financial said in its note. Despite lagging IndiGo in fleet expansion, the firm expects SpiceJet to clock “disproportionate growth (in profitability)” relative to its current size.
27/05/19 Niharika Sharma/Quartz
0 comments:
Post a Comment