This small-cap airline company partners with FTAI Aviation to restore fleet under CFM56 revitalization program!
On Thursday, shares of the company surged significantly by 5.61 per cent and made an intraday high of Rs 29.
SpiceJet, has revolutionized air travel by making it more affordable and accessible to a larger number of Indian citizens. With an IATA-IOSA certification, SpiceJet operates a fleet consisting of Boeing 737s and Q-400s, establishing itself as one of the leading regional players in the country. The airline actively participates in the regional connectivity scheme (UDAN), enabling numerous daily flights. Notably, a significant portion of the airline's fleet is equipped with SpiceMax, providing passengers with the most spacious economy class seating available in India.
SpiceJet and FTAI Aviation Ltd. have joined forces for a CFM56 revitalization program aimed at enhancing operational efficiency. Under this partnership, FTAI Aviation will provide with up to 20 engines on lease, along with maintenance services. By leveraging FTAI Aviation's expertise, SpiceJet will have a reliable supply of engines, reducing maintenance expenses and minimizing aircraft downtime.
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This collaboration underscores SpiceJet's commitment to cost-effective operations and delivering exceptional travel experiences. The engines procured through this program will support the re-activation of SpiceJet's fleet and enable the airline to introduce new routes. FTAI Aviation's engine management will optimize resource allocation, allowing SpiceJet to maximize its operational potential.
On Thursday, shares of the company surged significantly by 5.61 per cent and made an intraday high of Rs 29.
Investors should keep a close eye on this trending smallcap stock.