Moneycontrol Bureau
Shares of SpiceJet rose over a percent to Rs 43.85 after the airline's mega sale on tickets ended yesterday, ensuring the company earned Rs 200 crore from advance bookings.
At a time when the sector is bleeding and predatory pricing is considered a sin, SpiceJet's offer surprised customers, but nevertheless the airline announcing grand sale to beat lean season lasting till April, cannot be ruled out.
Insiders say, SpiceJet has upset rival carriers for its prompt strategy to ensure loads during the lean season. However, slashing fares to lure customers cannot be sustained in an industry loaded with heavy losses.
The initiative may help the airline increase market share. Also this festive season, demand (Oct-December) was not as strong as earlier years forcing Spicejet to drop prices.
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