Spicejet and Indigo in new skies

One man’s loss is another man’s gain. That’s what we are seeing in the Indian aviation sector. While there is news that Jet Airways could shut down operations completely, as of today, the others – Indigo and Spicejet are using this opportunity to their best advantage.

Spicejet has announced expansion plans. It stated today that it will add five 90-seater Q400 aircraft taking its Bombardier fleet size to 32. Three of these planes will join SpiceJet’s fleet in the next ten days while the remaining two will be inducted by June.

Indio has not announced any expansion plans as such but obviously, it will gain with this shortage created in the aviation sector.

Both the stocks have been on the rise for some days now. Currently, Indigo is just 0.83% away from its 52- week high of Rs 1,520 and has been gaining for the last 5 days and has risen 8.40% in the period.

Spicejet opened with a gain of 3.77% at Rs.123.85 and has been gaining for the last 4 days and has risen 33.88% in the period.