SpiceJet shares soar 8% on announcement of new international flights

hares of SpiceJet surged 8 percent on Monday after the airline announced that it will launch a slew of new international flights from Mumbai. The company, in its press release, said it will connect Mumbai to a host of international destinations with direct non-stop flights to Hong Kong, Jeddah, Dubai, Colombo, Dhaka, Riyadh, Bangkok, and Kathmandu. The new international flights will commence from May-end.

The stock surged as much as 7.8 percent to hit the day’s high of Rs 118.5. At 11:15 am, the stock was trading 6.55 percent higher at Rs 117 per share on the BSE. In comparison, the benchmark S&P BSE Sensex was ruling at 38,859 levels, up 92 points or 0.24 percent.

The air carrier will be deploying its Boeing 737 NG aircraft on the new routes.

SpiceJet had last week announced six new domestic flights connecting Mumbai with Kolkata, Chennai, and Varanasi. While SpiceJet’s international flight to Bangkok will start from May 17, 2019, the domestic flights are effective April 18, 2019.

Ajay Singh, Chairman and Managing Director, SpiceJet, said: “We are delighted to connect a large number of popular international destinations from Mumbai, a city that has always been a key and integral part of our network. SpiceJet will be the only Indian budget carrier operating on a majority of routes that we have announced today thus providing leisure and business travelers with more options to choose from.”

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