SpiceJet shares surge 11% on plans to expand fleet, announcement of new international destinations

New Delhi: Shares of SpiceJet continued to rise for fourth day in a row Tuesday, zooming over 11 percent on plans to expand its fleet and announcement of new international destinations. The scrip jumped 11.19 percent to close at Rs 132.70 on BSE. During the day, it climbed 13.78 percent to Rs 135.80. On the traded volume front, 229.15 lakh shares were traded on BSE during the day. Buying was also seen in other listed airline InterGlobe Aviation which advanced 7.35 percent to Rs 1,583.15 at close of trade on BSE. [caption id=“attachment_5059291” align=“alignleft” width=“380”] Representative image. Reuters[/caption] Shares of SpiceJet zoomed nearly 9 percent on Monday amid the company announcing that it will launch direct flights from Mumbai to seven international destinations, including Colombo, Jeddah, Dhaka, Riyadh and Hong Kong. The shares had climbed 8.5 percent on Friday after the airline announced it will induct 16 Boeing 737-800 NG aircraft, a move that will help in bringing down flight cancellations. In four days, the scrip has gained 40.49 percent. Budget carrier SpiceJet on Tuesday said it plans to expand its regional jet fleet to 32 aircraft by adding five more 90-seater Bombardier Q400s. The move is aimed at augmenting capacity in the domestic markets especially on regional routes, following the near collapse of Jet Airways, which has resulted in massive surge in air fares besides mismatch in demand and supply amid peak travel season. The Gurugram-based no-frills carrier had last week announced dry leasing of 16 Boeing 737-800 NG for the carrier.