Thanks to Jet Airways’ plum airport slots, SpiceJet hopes for a flying FY20

Low-cost airline SpiceJet, which posted a 22% jump in latest quarter’s net profit, hopes to improve its performance further in the current financial year 2019-20, helped by the prime slots at key airports it got after Jet Airways got grounded. SpiceJet MD Ajay Singh acknowledged the acquisition of plum spots at airports, without mentioning Jet Airways. Riding high on other factors as well, which include favourable operating environment, likely return of Boeing’s B737 MAX in July and its recent fleet expansion spree, the company, along with rival IndiGo, will make the most of Jet Airways grounding.

SpiceJet has received the maximum number of slots which were up for grabs after Jet Airways temporarily shut down its operations in March 2019. Out of the total number of 766 vacated slots, DGCA, Airport Authority of India and private airport operators had allocated 479 slots. Out of these, SpiceJet got 130, mostly in Mumbai. Other airlines have also received the Jet slots but SpiceJet has emerged as the biggest beneficiary, followed by IndiGo, which got 127 slots. The carriers have received these slots for a temporary period of three months.