SpiceJet plans to expand its fleet by adding 75 new aircraft in the next two years, leveraging a $30 Million USD investment to fuel growth and operational capacity.

Low-cost carrier SpiceJet is set to soar with ambitious growth plans, aiming to add 75 aircraft to its fleet over the next two years, supported by a recently raised $30 Million USD through a Qualified Institutional Placement (QIP), CEO Ajay Singh revealed to ET Now.

Singh highlighted that the capital infusion aligns with SpiceJet’s strategic expansion goals to boost its current fleet size from 25-28 aircraft to over 100 by 2025. The airline also intends to strengthen its operations by acquiring 40 to 45 aircraft from the secondary market in the coming years.

Inspired by the company’s rapid growth in 2015, Singh is confident about leveraging the current market conditions, which he views as full of potential. In addition to fleet expansion, the funds will be allocated to meet essential financial commitments, including statutory dues, employee payments, and other obligations.

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