SpiceJet plans to increase fleet by 50 aircraft

Indian LCC SpiceJet has announced plans to increase its fleet. The airline has signed a Memorandum of Understanding (MoU) with the New York-based investment firm Avenue Capital over the financing of 50 new aircraft to be ordered by the operator.

The new agreement between the US investment firm and SpiceJet is expected to create a “strategic alliance in respect of the financing, acquisition, and sale and lease‐back of 50 new planes to be ordered by the airline”, according to the SpiceJet statement. But, the Indian airline did not specify which aircraft types the investment firm would finance under the new MoU.

“We are delighted to enter into this strategic alliance with Avenue Capital Group and we look forward to closely working with them. This alliance will ensure a seamless induction of the planes in our fleet and help us plan better for the long term,” Ajay Singh, the Chairman and Managing Director of SpiceJet, was quoted in the statement.