SpiceJet shares jump over 5% as airline targets doubling fleet and tripling capacity by end-2025

SpiceJet Shares Today: SpiceJet shares climbed more than 5 per cent on November 17 after the airline outlined an aggressive expansion plan aimed at scaling up its fleet and operational capacity. The stock rose to Rs 37.40 apiece in early Monday trade.

Fleet expansion plan detailed

In an investor presentation released on Monday, the airline said its operational fleet had reduced to 19 aircraft in September from 21 in June. SpiceJet now aims to bring up to eight grounded Boeing aircraft back into service by April 2026, including four during the early winter period to meet peak travel demand.

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Two aircraft have already rejoined active service, while up to two more are expected to be inducted by December 2025. The remaining four are planned to return by early summer 2026.

Target to double fleet and triple ASKM

SpiceJet stated that it intends to double its operational fleet and nearly triple its Available Seat Kilometers (ASKM) by the end of 2025. The airline said that higher capacity and improved utilisation are expected to materially reduce CASK and support a better profitability outlook.
It added that liability restructuring is ongoing, with a significant portion expected to be completed in Q3 and Q4, which would help strengthen the balance sheet.

Q2FY26 earnings decline

Separately, SpiceJet reported a consolidated net loss of Rs 621 crore for the July–September quarter of FY26, compared with a loss of Rs 458 crore in the same period last year. Revenue from operations fell 13 per cent to Rs 792 crore in Q2FY26 from Rs 915 crore in Q2FY25.

Operational costs weigh on performance

The airline attributed the weak quarterly results to recalibrated dollar-based obligations, costs linked to grounded aircraft, and additional spending on return-to-service (RTS) activities. Continued airspace restrictions also increased operating costs and further impacted performance.

Stock performance snapshot

SpiceJet shares have gained more than 12 per cent over the past month but have declined over 18 per cent in the last six months. So far in 2025, the stock is down more than 35 per cent. The company’s P/E ratio currently stands above 10.