Shares of SpiceJet Ltd are trading flat after touching a day’s high of Rs 17.30 on 19th February, despite the company announcing that it has received a Memorandum of Understanding (MoU) for the induction of 10 aircraft. The company said this marks an important step in its ongoing capacity expansion and network rebuilding efforts.

This move comes after the Board approved a calibrated ramp-up of the fleet to 60 aircraft through a mix of damp leases and the phased return of grounded aircraft.

Debojo Maharshi, Chief Business Officer of SpiceJet, said the airline doubled its capacity in the last quarter and plans to more than double it again this year, reflecting strong demand and growing business confidence.

As per December aviation data, IndiGo’s market share stood at 64.4% compared to 63.6% month-over-month (MoM). Air India’s market share rose to 26.4% from 24.4% (MoM). SpiceJet’s market share increased to 3.3% from 3.1% (MoM). Akasa Air’s market share stood at 4.6%, down from 4.7% (MoM).

At 2:09 PM, shares of SpiceJet were trading 0.53% lower at Rs 16.86 on the BSE.

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