Beginning its operations in 2005, the airline operates as a low cost carrier in the price-sensitive Indian marketplace.
It is headquartered in Haryana. Kalanithi Maran, owner of the Sun Group, acquired a 37.7% stake in this airline in November 2010. SpiceJet commenced its international operations at Kathmandu in Nepal in May 2010 and Colombo in Sri Lanka in September 2010 after completion of its 5 years of domestic operations.
Spicejet, formerly known as Modiluft, presently operates 340 flights per day to around 40 destinations across the country and to 7 international destinations. It has its hubs in the metro cities of Delhi, Mumbai, Kolkata, Chennai and Hyderabad. Its operating fleet consists of 53 aircrafts with an average age of 4.2 years as of June 2014. Boeing 737-800s are used on domestic routes and 737-900ER for flying to international destinations. Recently, smaller Bombardier Q400 aircrafts have been added to meet the growing demand and enhance connectivity to Tier-II and Tier-III cities.
The airline’s revenue grew by a healthy 13% primarily owing to an 8% rise in overall passenger traffic in 2013-14. However, the operating margins sinked further to a negative 13.5% mainly due to weak PLFs, steep depreciation of rupee and increase in Air Turbine Fuel prices.
SpiceJet is focusing on consolidating its operations on key routes, viz main line domestic routes (Tier-I and Tier-II cities), regional routes (Tier-II and Tier-III cities) and international routes. It has also resized its network by discontinuing flights on some non-profitable destinations. Recently, Muscat was added to its international network and Dharmashala to domestic network.
No. of Passengers Carried in FY 2014-15: 11.7 million