Synopsis:
SpiceJet shares surged 14% on December 8, 2025, as operational resilience amid DGCA’s stricter FDTL norms, a largely wet-leased fleet, and added flights enabled it to capitalize on rivals’ disruptions, boosting market confidence.
The company is principally engaged in the business of providing air transport services for the carriage of passengers and cargo is now in the spotlight after adding 22 flights on Dec 7th for different routes.
With a market capitalization of Rs. 4,868 cr, the shares of SpiceJet Ltd are currently trading at Rs. 34.44 per share, increasing 14% in today’s market session, making a high of Rs. 35.50, from its previous close of Rs. 31.11 per share.
The reason why shares are up is
SpiceJet’s shares surged around 14% on December 8, 2025, primarily due to its operational resilience amid widespread flight disruptions caused by stricter DGCA flight duty time limitation (FDTL) norms enforced since November 1.
Roughly half of SpiceJet’s active fleet of 34 aircraft is wet-leased from foreign operators, exempting them from India’s tightened FDTL rules on rest periods, night duties, and fatigue reporting. These aircraft adhere to their home countries’ crew norms, enabling SpiceJet to avoid the roster shortages plaguing rivals like IndiGo, which cancelled over 3,500 flights since early December.
SpiceJet maintained high schedule adherence and even added 22 flights on December 7 across key routes such as Delhi-Mumbai, Delhi-Kolkata, and Bengaluru-Mumbai, capitalizing on rivals’ disruptions.
Regulatory DGCA imposed temporary fare caps from Rs. 7,500 for routes under 500 km to Rs. 18,000 for over 1,500 km to curb price spikes from the chaos, particularly IndiGo’s 65% market dominance fallout. A DGCA committee is probing carriers’ inadequate preparation for the norms, which align India with global fatigue standards.
About the company
SpiceJet Ltd is a low-cost Indian airline primarily engaged in providing passenger and cargo air transport services. Known for its budget-friendly fares, the airline operates a mix of owned and leased aircraft, connecting major domestic and select international destinations. Over the years, it has focused on operational efficiency, fleet optimization, and expanding flight networks to compete with larger carriers in India’s aviation sector.
In Q2FY26, the company reported sales of Rs. 781 crore, down by 14%, an EBITDA loss of Rs. 454 crore, and a net loss of Rs. 634 crore. Earnings per share stood at Rs. -4.48.
The company’s outlook for the upcoming quarters is positive, with its operational fleet expected to double by year-end, significantly expanding network reach. Increased capacity and improved aircraft utilization should enhance profitability, while ongoing liability restructuring in Q3 and Q4 is set to strengthen the balance sheet.
Written by Manideep Appana
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