SpiceJet Leases 3 Airbus A320s, Ungrounds Boeing 737 MAX As Fleet Shrinks To 21 Aircraft

Mumbai, June 8: Cash-strapped Indian budget carrier SpiceJet has finalised lease agreements for three Airbus A320 aircraft and successfully ungrounded one of its grounded Boeing 737 MAX variants.

The move is seen as a bid to arrest an operational tailspin brought on by a severely depleted fleet, leading to compromised operational efficiency.

Leasing Airbus A320s

While SpiceJet has withheld the name of the aircraft's lessor, the three leased Airbus narrowbodies are scheduled to enter commercial service in July under a damp lease framework, an arrangement where maintenance, insurance and part of crew are also rented along with the aircraft. They are expected to provide a critical injection of capacity just as the airline battles sinking revenues and widening losses.

Boeing 737 MAX returns to service

Simultaneously, the airline has returned a grounded Boeing 737 MAX to the skies. However, a significant fraction of its fleet still remains grounded due to maintenance, DGCA compliances, supply chain issues and legal troubles. The airline currently has only 21 operating aircraft in its fleet.

SpiceJet's chief business officer Debojo Maharshi said, “These aircraft will help us meet growing passenger demand, strengthen operational resilience and enhance network flexibility during a busy travel period. We continue to focus on steadily expanding our fleet and improving operational readiness as we move forward with our growth plans.”

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Operational challenges

Notably, SpiceJet is suffering due to these issues, and it has severely affected its operational efficiency. The airline's on-time performance has fallen to an average of only 50%. The airline's domestic market share has also reduced to less than 4%.

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