CMD Ajay Singh: SpiceJet ready to be 100-fleet airline again by 2026-end

SpiceJet was held back by two consecutive "black swan" events but is now ready to become a 100-fleet airline again by the end of 2026, chairman and managing director Ajay Singh told sources, even as the low-fly carrier continues to battle multiple headwinds.

The airline has strong fundamentals but was hamstrung by worldwide grounding of Boeing 737 MAX and the Covid-19 pandemic, Singh told in an interview. 

The Gurugram-based airline has all the necessary infrastructure to become a 100-fleet carrier again,the CMD said, adding it has required airport slots, international traffic rights pilots and crew.

Singh said it is important to stop the domestic aviation sector turning into an Air India and IndiGo duopoly to ensure the market stays competitive. The sector has a lot of space for other airlines.

SpiceJet has raised Rs 3,000 crore through sale of shares to qualified institutional buyers, providing a much-needed tailwind for the struggling airline.

Foreign entities, including Societe Generale - ODI, Goldman Sachs (Singapore) Pte - ODI, Nomura Singapore Ltd ODI and Discovery Global Opportunity (Mauritius) Ltd are among the investors who have been allotted shares under the airline's Qualified Institutional Placement (QIP) that was oversubscribed.