SpiceXpress Archives - Defence Monitor

03 Apr

SpiceJet completes SpiceXpress hive off, results in one-time gain of Rs 2,555.77 cr

New Delhi, April 3 (IANS) SpiceJet has completed the hive off of its cargo and logistics division 'SpiceXpress' into a separate entity, SpiceXpress and Logistics Private Limited. The consideration for the slump sale will be discharged by SpiceXpress by issuance of securities in the combination of equity shares and compulsorily convertible debentures to SpiceJet for an aggregate amount of Rs 2,555.77 crore which will also strengthen the balance sheet of SpiceJet. The hive off is effective from April 1, 2023 and paves the way for SpiceXpress to raise funds independently. As per the airline, the hive off would strengthen SpiceJet's balance…

24 Feb

SpiceJet net profit jumps to Rs 107 cr in Q3 FY2023

New Delhi, Feb 24 (IANS) SpiceJet reported a net profit of Rs 107 crore (Rs 221 crore excluding forex adjustment) for the quarter ending December 31, 2022 as compared to a net profit of Rs 23.28 crore (Rs 20 crore excluding forex adjustment) in the quarter ending December 31, 2021. The airline on Friday said that despite a big jump in passenger traffic, business continued to be impacted by high fuel prices and depreciating Rupee. The total revenue for the reported quarter was Rs 2,794 crore as against Rs 2,679 crore in the same quarter of the previous year. For the…

23 Sep

SpiceXpress expands air cargo capacity with 737-800 Boeing Converted Freighter

SpiceJet's cargo business is the first in South Asia to operate the efficient standard-body freighter on lease from Spectre Cargo Solutions’ NGF Alpha Limited - 737-800BCF’s lower operating costs to help SpiceXpress serve one of the world’s most populated regions SINGAPORE: SpiceXpress, SpiceJet’s cargo division, has taken delivery of its first 737-800 Boeing Converted Freighter (BCF) as the India-based carrier expands its air cargo operation to better serve one of the world’s most populated regions and offer new route options. “We are expanding the markets we currently serve, particularly in the Middle East, Hong Kong and Bangladesh and the 737-800BCF’s reliability…