SpiceJet shares surge up to 8% as airline expands fleet capacity amid IndiGo crisis

The shares of SpiceJet surged nearly 8 percent to their day's high on December 9, extending gains for the third consecutive session. This comes as the airline said that it has strengthened its fleet and operational capacity with the addition of two new Boeing 737 aircraft across key routes.

SpiceJet shares hit an intraday high of Rs 34.99 apiece on Tuesday, extending gains to 15 percent over three consecutive sessions as rival airline IndiGo faces mass disruptions. The stock then pared some gains to close around 6 percent higher in the green at Rs 34.31 per share.

SpiceJet expands fleet capacity:

SpiceJet on December 9 announced that it has inducted two Boeing 737 aircraft into its fleet. The airline said that this will strengthen its "operational capability and capacity across key domestic and international routes".

"The addition comes at an important time for the airline as it continues to focus on improving connectivity, enhancing schedule reliability, and meeting rising passenger demand. With these inductions, SpiceJet aims to offer greater choice and flexibility to travellers during the peak travel season," SpiceJet said.

The two new aircraft have already entered into commercial service since end of November, and are deployed on key routes including Delhi-Bangkok, Ahmedabad-Dubai and Ahmedabad-Kolkata

SpiceJet CBO Debojo Maharshi said that the induction of the two Boeing 737 aircraft is another step in its efforts to expand capacity in a "calibrated and responsible manner". "We remain committed to providing reliable, efficient, and affordable air travel to our passengers while continuing to build a stronger and more resilient network," he added.

IndiGo crisis:

IndiGo's flight cancellations continued to persist on Tuesday, leading to widespread chaos at India's major airports. The Directorate General of Civil Aviation (DGCA) has ordered a 5 percent reduction in IndiGo’s flight schedule in the wake of widespread disruptions in airline's operations since December 2.

A significant factor behind the chaos is a sharp shortage of crew, particularly pilots, following the introduction of revised Flight Duty Time Limitation (FDTL) norms last month. The new rules mandate more rest hours and humane rosters, but IndiGo has been struggling to realign its network accordingly.

SpiceJet share price history:

SpiceJet shares have risen marginally in the past one month. The stock has fallen over 21 percent in the past six months, and around 39 percent in 2025 so far.

Its P/E ratio on a consolidated basis stands at over 10.