Airline Stock Under Rs 50: Company Expands Domestic Network with 24 New Flights for Summer 2025
In its annual results, the company reported net sales of Rs 7,085 crore, an operating loss of Rs 644 and a net loss of Rs 424 crore in FY24.
SpiceJet has announced a significant expansion of its domestic network for Summer 2025, launching 24 new flights and introducing three new destinations: Tuticorin, Porbandar, and Dehradun. Starting March 30, 2025, the airline will begin phased operations on these routes, with bookings already open. This expansion aims to enhance connectivity across India, providing travellers with more convenient travel options. Notably, Tuticorin will receive daily direct flights to Bengaluru and twice-daily flights to Chennai, facilitating same-day return trips, while Dehradun will become accessible from major cities like Ahmedabad, Bengaluru, Delhi, and Mumbai.
Additionally, SpiceJet is strengthening its existing network by introducing new routes such as Ahmedabad-Srinagar and Pune-Varanasi. Porbandar will gain exclusive connectivity to Mumbai with twice-weekly non-stop flights. The airline is also re-establishing connections between Bengaluru and Goa, as well as Pune and Chennai, offering passengers a wider range of travel choices. This strategic expansion reflects SpiceJet's commitment to improving domestic air travel and catering to the growing demand for convenient and accessible flights.
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SpiceJet is India's favourite airline that has made flying affordable for more Indians than ever before. SpiceJet is an IATA-IOSA certified airline that operates a fleet of Boeing 737s & Q-400s and is one of the country's largest regional players operating multiple daily flights under UDAN or the Regional Connectivity Scheme. The majority of the airline's fleet offers SpiceMax, the most spacious economy-class seating in India.
Despite a 35 per cent year-over-year (YoY) drop in sales to Rs 1,237.0 crore, compared to Rs 1,914.4 crore in Q3 FY23e, the company demonstrated a significant financial recovery; EBITDA losses narrowed by 21 per cent YoY to Rs -188 crore, and net profit turned positive at Rs 25 crore, a 108 per cent YoY improvement. This positive shift, alongside a 104 per cent increase in EPS to Rs 0.19, was largely attributed to a 72.3 per cent surge in other income to Rs 417.1 crore, which compensated for the operational revenue decline.
In its annual results, the company reported net sales of Rs 7,085 crore, an operating loss of Rs 644 and a net loss of Rs 424 crore in FY24. The company has a market cap of over Rs 6,000 crore.
Disclaimer: The article is for informational purposes only and not investment advice.