SpiceJet says taking measures to deal with capacity crunch

SpiceJet Ltd Chairman Ajay Singh said on Thursday the budget airline was taking “all possible proactive measures” to deal with capacity reduction in the aviation industry, a day after rival Jet Airways Ltd was forced to ground all flights as it ran out of funds.

Shares of the company jumped as much as 15 per cent on news that Jet Airways had suspended its operations.

Jet Airways halted all flight operations indefinitely on Wednesday after its lenders rejected a plea for emergency funds, potentially bringing the curtains down on what was once India’s largest private airline.

SpiceJet will add six more Boeing 737-800 NG aircraft on a dry lease, in addition to the sixteen 737s and five Bombardier Q400s it inducted recently, the airline said in a statement.