SPICEJET Share Price

SpiceJet Ltd is engaged in air transport services for both passengers and cargo. The airline operates passenger aircraft to 73 – 60 domestic and 12 international – destinations. The cargo services of the airline are available for 11, 264 postal codes with 8500 average flights per month. With a fleet of over 100 aircraft, SpiceJet carries over 980 tonnes of cargo daily.

SpiceJet Ltd was incorporated in 1984 as Genius Leasing Finance and Investment Company. The company, renamed as MG Express, ventured into domestic aviation under a technical partnership with Deutsche Lufthansa AG.

Business Operations

The company received its new name ModiLuft as it entered into a management agreement with Lufthansa to manage their entire airline operations in 1994. However, the airline's operations were eventually suspended in 1996 after growing disagreements with Lufthansa. It was again renamed to Royal Airways during 2000-01. It started commercial operation of domestic flight services in 2005 with three leased Boeing 737-800 aircraft.

The company had to undergo another name change to be rebranded as Spicejet Ltd in 2005. The airline partnered with various travel-related websites to sell their tickets through the internet. SpiceJet launched its daily direct flights between Delhi and Kolkata in 2005. It also began services to two new cities, Jammu and Srinagar.

With the induction of five new aircraft to their fleet during 2006-07, the company took the total fleet strength to 11 aircraft. It also started the sale of food on board and introduced SpiceJet Hotels, a dedicated online web hotel reservation service.

In 2007, SpiceJet signed an agreement with Air India for the wet lease of two of the company's Boeing 737-800 aircraft. In 2016, SpiceJet made several new purchases for its fleet. The company placed an order for up to 205 Boeing 737 MAX narrow and wide-bodied aircraft.

In 2017, SpiceJet signed an agreement with CFM International for the purchase of LEAP-1B engines to power a total of 155 Boeing 737 MAX planes along with spare engines to support the fleet.

SpiceJet began its dedicated air cargo services – SpiceXpress– in September 2018. In 2020, the airline operated India's first cargo-on-seat flight, using a passenger aircraft to transport cargo.

As of December 2023, SpiceJet has 92 aircraft in its fleet. SpiceJet's market capitalisation is over ₹4,109 crore as of December 29, 2023. SpiceJet's share price has fallen over 36% in the last three years.

Financial highlights

• SpiceJet’s consolidated total income in FY23 stood at ₹9,842 crore, recording a 29.9 % year-on-year growth compared to ₹7,572 crore in FY22.
• The company narrowed its net loss to ₹1,513 crore in FY23 as against ₹1,744 crore in FY22.
• SpiceJet reported EBITDA (earnings before interest, tax, depreciation and amortisation) loss of ₹37.62 crore in FY23 compared to ₹50.65 crore in FY22.
• The company’s earnings per share (EPS) stood at ₹(-25.14) in FY23 compared to ₹(-29.01) in the previous financial year.