Home / Markets / Stock Markets /  SpiceJet shares continue to fly high; zoom over 11%

Shares of SpiceJet continued to rise for fourth day in a row Tuesday, zooming over 11 per cent on plans to expand its fleet and announcement of new international destinations.

The scrip jumped 11.19 per cent to close at 132.70 on BSE. During the day, it climbed 13.78 per cent to 135.80.

On the traded volume front, 229.15 lakh shares were traded on BSE during the day.

Buying was also seen in other listed airline InterGlobe Aviation which advanced 7.35 per cent to 1,583.15 at close of trade on BSE.

Shares of SpiceJet zoomed nearly 9 per cent Monday amid the company announcing that it will launch direct flights from Mumbai to seven international destinations, including Colombo, Jeddah, Dhaka, Riyadh and Hong Kong.

The shares had climbed 8.5 per cent Friday after the airline announced it will induct 16 Boeing 737-800 NG aircraft, a move that will help in bringing down flight cancellations.

In four days, the scrip has gained 40.49 per cent.

Budget carrier SpiceJet Tuesday said it plans to expand its regional jet fleet to 32 aircraft by adding five more 90-seater Bombardier Q400s.

The move is aimed at augmenting capacity in the domestic markets especially on regional routes, following the near collapse of Jet Airways, which has resulted in massive surge in air fares besides mismatch in demand and supply amid peak travel season.

The Gurugram-based no-frills carrier had last week announced dry leasing of 16 Boeing 737-800 NG for the carrier.

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