SpiceJet shares fly over 10% as airline says it will lease two A340 planes for Haj operations

Shares of SpiceJet surged over 10 per cent on Friday as the low-cost carrier announced that it will lease two wide-body A340 planes for Haj operations. The counter opened at Rs 54.50 and went on to touch the day's high of Rs 60 - a surge of 10.89 per cent from the previous close of Rs 54.11.

Shares of SpiceJet, which has a market cap of Rs 4,038, have a 52-week high of Rs 77.50 and a 52-week low of Rs 22.65.

According to an exchange filing these aircraft will be operated from Srinagar and Guwahati.

The first phase of the Haj operations is scheduled to commence on May 9 in Medina. Each of the wide-body aircraft will have a seating capacity of 324.

SpiceJet said flights are scheduled to operate from seven Indian cities -- Srinagar, Gaya, Guwahati, Bhopal, Indore, Aurangabad, and Vijayawada.

Chandan Sand, Head of Leasing and Legal at SpiceJet, said the lease agreement for the induction of A340 aircraft has been finalised.

"Induction of two wide-body A340 aircraft into our fleet, further enhancing our capacity to serve the needs of our passengers, especially during the upcoming Haj operations. These A340s will not only elevate our service standards but also play a vital role in enhancing our revenue streams," Sand said.

SpiceJet operated over 200 special Haj flights last year, carrying over 21,000 pilgrims.