SpiceJet shares jump 9%, snap 6-session losing streak as 4 aircrafts set to take flight

Shares of budget airline SpiceJet rose by nearly 9% on the Bombay Stock Exchange following the announcement that the carrier was targeting the return of four of its grounded aircraft by 15 June. SpiceJet has revealed that it will relaunch its grounded fleet using its own internal cash and a $50m allocation from the Indian government’s Emergency Credit Line Guarantee Scheme. The airline has also announced improved route coverage and held an anniversary offer event to promote these new services.