India's SpiceJet up for 5th straight session on fleet induction plan

FTAI Aviation

09/06/2023 08:02

** Shares of SpiceJet Ltd  SPJT.BO  rise as much as 5.6% to
29.50 rupees, their highest since May 22
    ** Indian low-cost carrier on Friday said it will induct 10
Boeing 737 aircraft into its fleet by September 2023 to boost
capacity for the winter season during which domestic travel
peaks
    ** SPJT on Thursday said it partnered with FTAI Aviation
 FTAI.O  to restore its fleet; shares closed 4.4% higher
    ** Stock up for 5th straight session; if gains hold stock
set for longest winning run since Dec. 8, 2020
    ** Around 3.2 mln shares change hands by 12:24 p.m. IST
    ** Stock trims YTD losses to 24.7%

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))