Spicejet plans Rs 4,000-cr aircraft buy | business | Hindustan Times
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Spicejet plans Rs 4,000-cr aircraft buy

business Updated: Nov 02, 2010 21:39 IST
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Months after media baron Kalanithi Maran bought a controlling stake in the airline, low-cost carrier SpiceJet on Tuesday announced plans to spend around $900 million (about Rs 4,000 crore) to purchase 30 Nextgen turboprop aircraft from Canada’s Bombardier Inc.

It reported a profit of Rs 10.1 crore for the July-September quarter, against a loss of Rs 101.3 crore in the year-ago period. The carrier plans to focus on Tier II and III cities. “The enormous potential in the domestic market can be tapped by enhancing regional connectivity,” said Neil Mills, CEO, SpiceJet.

“SpiceJet continue to outperform the industry with a 16% growth in passenger traffic. It also improved its market share to 12.8% from 12.6% last year,” the company said in a statement.