SpiceJet secures MoU for 10 aircraft; eyes major capacity ramp-up by Winter

Indian carrier SpiceJet has received a Memorandum of Understanding (MoU) for the induction of 10 aircraft, marking a significant milestone in its ongoing capacity expansion and network rebuilding strategy.

The announcement comes days after the airline’s Board approved a calibrated ramp-up of its fleet to 60 aircraft through a mix of wet and damp leases, along with the phased return of grounded planes to service.

"This development follows the Board’s approval, announced last week, for a calibrated ramp-up of the fleet to 60 aircraft through a mix of wet and damp leases, along with the phased return to service of existing grounded aircraft," SpiceJet said in a statement.

Capacity doubled in the last quarter: SpiceJet

SpiceJet reported that its operational performance restoration process has progressed faster during the last three months as the airline has increased its operational capacity to double its previous amount. The Available Seat Kilometres (ASKMs) increased from 55 crore to 105 crore, which demonstrated the airline's operational capabilities and route expansion capacity.

The airline intends to expand its operational capacity beyond its current performance level during the upcoming twelve months. The company aims to achieve 220 to 225 crore ASKMs by Winter 2026 while running 300-plus daily flights throughout its domestic and international routes.

"SpiceJet’s recovery has gathered pace in recent months. The airline doubled its capacity in the last quarter, with Available Seat Kilometres (ASKMs) rising from around 55 crore to 105 crore, reflecting a sharp increase in network strength. Building on this momentum, SpiceJet plans to more than double its capacity during the year, targeting 220 crore Available Seat Kilometres by Winter 2026, while operating over 300 daily flights across its network," the airline said.

Fleet to expand to 60 aircraft

Under the approved expansion plan, SpiceJet will increase its fleet size to 60 aircraft. The growth strategy includes a combination of leased aircraft and the reactivation of previously grounded planes, ensuring a steady and controlled increase in operations.

The airline said the expansion is designed to strengthen connectivity, enhance operational reliability and cater to strong passenger demand, while maintaining a disciplined and sustainable growth approach.

Focus on sustainable growth

SpiceJet reiterated that it will pursue a balanced strategy that combines fleet restoration with selective capacity additions. The airline’s management emphasised that the focus remains on rebuilding network strength and ensuring long-term financial sustainability.

"SpiceJet will continue to pursue a balanced growth strategy, combining fleet restoration and selective capacity additions, as it works towards strengthening its network and long-term sustainability," the airline said.

Commenting on the development, Debojo Maharshi, Chief Business Officer, SpiceJet, said, “Doubling our capacity in the last quarter has been a significant milestone, and the plans we have in place to more than double it further this year reflect growing confidence in the business and strong demand across the network. The receipt of this MoU is an encouraging development as we continue to rebuild and expand our operations in a measured manner. Our focus remains on restoring capacity, strengthening connectivity and improving reliability for our passengers.”

Capacity push lifts market share to 4.3%

In its investor presentation submitted to the exchanges, SpiceJet said its market share rose sharply from 2.2 per cent to 4.3 per cent within three months, driven by network expansion and capacity additions. The airline added that its capacity expansion, aligned with fleet induction, has resulted in an approximately 1.9x increase in operational scale, achieved by December 2025.

SpiceJet share price

Shares of SpiceJet were trading at Rs 16.94 apiece at around 12 pm, marking a marginal decline of 0.06 per cent from the previous close. The airline’s stock has witnessed significant pressure, falling 17.20 per cent over the past week and plunging 43.46 per cent on a year-to-date (YTD) basis.

Notably, the stock recently touched its 52-week low of Rs 16.53 on February 18, 2026, reflecting continued weakness in investor sentiment.