SpiceJet Shares Gain 5% as Airline Plans to Double Fleet by 2025-End

SpiceJet shares jumped more than 5 percent on November 17 after the airline announced that it expects its operational fleet to double by the end of 2025, marking a major step in its ongoing turnaround efforts. The stock touched Rs 37.40 in early Monday trade.

In its latest investor presentation, the airline said its operational fleet had slipped to 19 aircraft in September, compared to 21 in June. However, it outlined a clear plan to significantly scale up capacity over the next year.

Operational Fleet to Double; Grounded Aircraft Returning

According to SpiceJet, up to eight grounded Boeing aircraft are expected to rejoin the fleet by April 2026.

• Two aircraft have already returned,

• Two more are expected by December 2025,

• The remaining four are planned for induction by early summer 2026.

The airline said, “By the end of 2025, SpiceJet aims to double its operational fleet and nearly triple its Available Seat Kilometers (ASKMs).”

This marks a significant milestone in its growth roadmap, especially as the carrier works toward stabilising operations after multiple weak quarters.

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Capacity Boost Expected to Improve Costs and Profitability

SpiceJet said that higher capacity and better aircraft utilisation are likely to materially reduce its CASK (Cost per Available Seat Kilometer).
Higher utilisation is expected to lift overall profitability, the airline added.

On the financial side, SpiceJet noted that liability restructuring remains ongoing, with major restructuring expected in Q3 and Q4, which should help strengthen its balance sheet.

Q2 FY26 Performance: Loss Widens

In its Q2 FY26 results announced on November 12, SpiceJet reported a consolidated net loss of Rs 621 crore, higher than the Rs 458 crore loss in the same quarter last year. The airline attributed the weak performance to:

• Decline in passenger traffic

• Higher foreign exchange losses

• Costs related to grounded aircraft

• Additional expenses incurred for returning aircraft to service

• Airspace restrictions that increased operating costs

Revenue from operations fell 13% year-on-year to Rs 792 crore, compared with Rs 915 crore in Q2FY25.

The company said the quarter was impacted by the seasonally weak period, coupled with adjustments for dollar-denominated obligations and elevated operating costs.

Stock Performance

Despite recent volatility, SpiceJet shares have:

• Gained over 12% in the past month,

• Fallen more than 18% over the past six months,

• Dropped over 35% in 2025 so far.

The stock currently trades at a P/E ratio of over 10.

Disclaimer

The views and investment opinions cited are those of analysts and experts. Investors should consult certified financial advisors before making investment decisions.

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