Spicejet to launch flights to Lakshadweep and Ayodhya
Pune-Dubai Flight Delayed Over Eight Hours Due to Technical Issue
SpiceJet’s stock increased on Thursday after the company announced that, as part of the government’s push for regional connectivity, it intends to begin flights connecting Lakshadweep, for which it has exclusive rights as an archipelago Union Territory.
The airline added that it soon intends to link Ayodhya with other cities. SpiceJet’s stock increased by as much as 2.9% to Rs 67.4 per share on the BSE, extending its rise to over 10% in just three days and bringing it within Rs 2 of a 52-week high reached last month.
The airline announced at its 39th Annual General Meeting (AGM) on Wednesday that it will begin offering direct flights between Agatti Island, Lakshadweep. Travelers can currently reach Kerala’s Lakshadweep via Kochi.
SpiceJet shareholders approved a proposal to raise Rs 2,250 crore at the Annual General Meeting. The board approved the proposal in December.
Speaking to the shareholders during the AGM, SpiceJet’s CEO said that the financial infusion will increase the airline’s strength and resilience as well as its market potential and opportunities. The aircraft that has been grounded will also benefit from the fresh financial infusion.
