Festive Gamble: SpiceJet Expands Despite Losses

SpiceJet has announced that it will lease eight more Boeing 737 aircraft ahead of the upcoming festive and winter travel rush. The announcement was made on 16 September 2025 and is part of the airline’s wider plan to expand and stabilise its fleet.

SpiceJet Plans to Add 18 Jets in Total

These eight jets are in addition to earlier leasing agreements involving 10 Boeing aircraft. The earlier batch is expected to arrive from October. In total, the airline aims to add up to 18 aircraft to strengthen its operations.

Financial Struggles Continue Despite Fleet Expansion

Despite the expansion plans, SpiceJet continues to face financial and operational troubles. The airline has signed several settlement deals in recent years with both lessors and creditors to manage its debt burden.

Recent Settlements Offer Temporary Relief

Just a week ago, SpiceJet repaid $24 million to Credit Suisse and secured an $89.5 million settlement from Carlyle’s aviation unit. These moves have provided some much-needed relief to the airline’s strained finances.

Stock Market Response and Trading Activity

SpiceJet’s stock (BSE: 500285) closed at ₹32.69 on the day of the announcement, registering a 0.77% gain. However, the stock has remained volatile over the past year, with prices fluctuating between ₹31.25 and ₹74.70.

Operational Losses and Aircraft Delays Remain a Concern

In June, the airline reported its second straight quarterly loss. Weaker demand for leisure travel and regional geopolitical tensions were cited as key reasons. Delays in reactivating grounded aircraft have also worsened operational challenges.