Right since the morning bell, Spicejet has been the top gainer on the BSE, going up over 14% to Rs.104.70, not too far from its 20% UC at Rs.109.95. Indigo is also doing well, going up over 2% to Rs.1453.
One man’s loss is the other’s gain – this idiom is perfectly exemplified in the current scenario of the Indian aviation sector. With Jet currently grounded, the gainers are obviously those still up there in the air – Spicejet and Indigo.
Moreover, there is talk of the Govt asking Spicejet to takeover as many as 40 of the Jet Airways’ grounded planes that are owned by the lessors.
There is also talk of pilots who are out-of-job, mainly on account of Jet, queuing up to seek employment with these two airlines. There is unconfirmed news that as many as 260 Jet pilots, including 150 captains, appeared for the interviews in Mumbai’s Spicejet office yesterday.
Indigo meanwhile announced that it is all set to take delivery of 20-25 of the 45 Airbus A321 planes it ordered, which is the stretched, longer version of the A320 family of planes. It has also started its daily flight to Istanbul and expand it to 2 soon. It also has a code share with Turkish Airlines which will connect it to 20 European destinations.