SpiceJet will be partnering with FTAI Aviation for fleet revitalisation and FTAI will provide up to 20 engines for lease including maintenance services. The first engines would be used to re-activate SpiceJet's fleet in the next 2-3 months.
The partnership with FTAI, a leading aftermarket provider of engine services, will help SpiceJet reduce its maintenance expenses and aircraft downtime and at the same time gain access to a pipeline of available engines eliminating the need for frequent shop visits.
SpiceJet in a release said, "The revitalisation programme will reduce maintenance expenses and minimise aircraft downtime, enhancing the airline's overall performance."
The partnership will ensure that SpiceJet's fleet is up and running at all time without having to worry about engines or their maintenance as quick and easy replacement will help offer faster service and reduce the time on ground.
The Chairman and Managing Director Ajay Singh said, "SpiceJetis slowly but surely progressing towards its goal of restoring its fleet and ensuring that our aircraft stay where they rightly belong to i.e. in the skies serving our passengers."
SpiceJet shares jump by 4%
After the news was released the shares of SpiceJet jumped around 4 per cent at Rs 27.80 on the BSE. The stocks of SpiceJet in the last year have declined nearly 41 per cent as it faces legal battles, cash crunch and regulatory headwinds.
SpiceJet launches Haj operations
The Guurgam-based airline on June 7 commenced Haj operations with special flights between Gaya, Bhopal, Srinagar, Aurangabad and Vijayawada. The airline is using two wide-body A340 aircraft for this operation that will be running from June 7 and June 22. The airline has also scheduled return flights between July 17 and August 2.
