SpiceJet Shares Decline 10% After Block Deal Triggers Heavy Selling, Down 25% in Seven Trading Days

SpiceJet Shares Decline 10% Amid Block Deal

On February 25, SpiceJet shares plummeted 10% lower circuit, marking the seventh consecutive trading session in decline. This extends the airline's seven-session fall to 25%. At 11 am on February 25, SpiceJet shares on the BSE were trading at Rs 12.88 apiece.

SpiceJet has been working to expand its fleet, aiming to reach around 60 planes through a mix of wet and damp leases, as well as bringing grounded aircraft back into service. The airline's domestic market share rose to 4.3% in December, up from 1.9% in September last year, driven by a 56% expansion in capacity during the December quarter.

According to the airline's plans, SpiceJet aims to more than double its capacity, targeting 220 crore Available Seat Kilometres by Winter 2026. However, the airline is facing challenges, including a ban on using Bangladesh airspace due to pending dues. As a result, SpiceJet is taking longer routes for some flights from Kolkata, including routes to Guwahati.

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

A SpiceJet spokesperson confirmed that the airline is in regular dialogue with relevant authorities on operational and procedural matters, including navigation-related charges.