Spicejet gets its spice back!

Spicejet has taken off! The stock is currently up almost 9% at Rs.17.10, closer to its intra day high at Rs.17.60. Its upper circuit limit is at Rs.18.80.

The company today morning announced that it has tied up with and Tigerair, Singapore’s largest budget airline, to pave the way for greater connectivity between flights operated by both carriers.

This is a three-year interline agreement.

Starting from 6th January 2014, customers travelling on SpiceJet’s domestic network from 14 Indian cities can enjoy seamless connection through Hyderabad’s Rajiv Gandhi International Airport onto Tigerair’s Singapore-bound flights.

The 14 Indian cities are Ahmedabad, Bhopal, Chennai, Kolkata, Coimbatore, Delhi, Goa, Indore, Mangalore, Madurai, Pune, Bengaluru, Tirupati, and Visakhapatnam (Vizag). Introductory promotional fare, start from Rs 4,699 one way (all-in) and return starting from Rs .998/- (all–in). Starting from 12th January 2014, Tigerair customers from Singapore will also enjoy easy access to SpiceJet’s wide domestic network, making their holiday and business travel more seamless.

The market is enthused with this news as it Spicejet’s strategy to face competition from the new expected airlines of Tata and Singapore Airlines and with AirAsia.