Spicejet has inducted three Airbus A320 aircraft under damp lease arrangements. The aircraft have been procured from Cambodia’s Sky Angkor Air and all are around 15 years old on an average. The move comes as Spicjet looks to rebuild capacity and strengthen its domestic network after a sharp decline in market share following the exit of its wet-leased fleet.
Fleet Expansion
All three aircraft have arrived in India and are expected to enter commercial service later this week. They are configured in a single class all economy configuration of 180 seats. The airline said the additional capacity will support network expansion, improve connectivity on key domestic routes and facilitate the launch of new services. SpiceJet is also in advanced talks with lessors to induct more aircraft in the coming months as part of its fleet expansion plan.
“The induction of these three aircraft is part of our planned capacity expansion. As demand continues to grow, these aircraft will help us add more flights on existing routes, improve connectivity and support the launch of new services,” said Debojo Maharshi, Chief Business Officer, SpiceJet.
Rebuilding Market Share
The fleet addition comes after the airline witnessed a sharp erosion in domestic market share over the past two months. According to Directorate General of Civil Aviation (DGCA) data, SpiceJet’s domestic market share fell to 2.5% in May from 3.4% in April, even as domestic passenger traffic rose 11.6% month-on-month to 15.4 million passengers.
The decline followed the exit of all 16 wet-leased aircraft by early June. According to sources, the move was driven by weak seasonal demand, elevated aviation turbine fuel (ATF) prices and rising operating costs. Around six aircraft are also undergoing scheduled maintenance, further constraining capacity.
