SpiceJet Plans Fleet Expansion as Carrier Nears Break-Even
- Chairman Singh sees need for 30-40 passenger jets, 10-15 cargo
- Expects cargo unit to reach $1 billion in revenue in 2-3 years
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SpiceJet Ltd. Chairman Ajay Singh wants to expand the company’s fleet of passenger jets and cargo haulers as the Indian airline’s financial performance recovers after a punishing stretch during the pandemic.
Singh said the no-frills carrier has a “reasonable chance” of reaching break-even this quarter through December thanks to a combination of cost cuts, renegotiated aircraft leases, an uptick in air travel traffic in India and the growth of the company’s new cargo operation.