Tag: SpiceJet

News

SpiceJet’s Stock Soars as Company Secures Fresh Capital, Experts Bullish on Breakout

Dec 7, 2023 by Sujata Muguda 0 Comments #SpiceJet, #SpiceJet's Stock

New Delhi: – Budget carrier SpiceJet’s Board will meet on Monday (December 11), to decide on the proposal to raise fresh capital in the Company through the issue of equity shares. Sources said the Company was looking for anywhere between $100-1200 million fresh equity infusion.

The airline’s stock jumped 20% on the Bombay Stock Exchange, hitting the upper circuit, on Thursday after the news broke.

Experts are extremely bullish on the stock, which is significantly undervalued.

“SpiceJet, with its market capitalization currently standing at around INR 4000 crore, appears to be significantly undervalued when compared to its peers in the Indian aviation industry. A substantial equity infusion into the airline can turn around the fortunes of the 18-year-old airline,” said an industry expert.

For reference, the market capitalization of IndiGo is INR 1.1 lakh crore. “This stark difference in market capitalization positions SpiceJet as an attractive investment opportunity, offering substantial growth potential and attractive returns for investors,” he said.

The airline has multiple strong points to its advantage. “SpiceJet holds coveted slots and routes at all important Indian and international airports like Dubai, Thailand, Oman, Colombo, Male etc., providing a competitive edge in the market and contributing to its potential for sustained growth. It also has a 200-plus plane order with Boeing for the its 737 Max aircraft.”

“A correction in SpiceJet’s stock prices is imminent and could result in sizeable returns for investors. We believe it stands out as the best bet among Indian aviation companies for growth and returns. SpiceJet’s current share prices present an advantageous entry point for investors looking to capitalize on potential upward movements,” a senior SpiceJet official said.

Business World

Liberty General Insurance Partners with SpiceJet to Offer Travel Insurance

Sep 11, 2020 by Gouri Achary 0 Comments #chief commercial officer, #Liberty General Insurance, #Mr. Roopam Asthana, #Ms. Shilpa Bhatia, #SpiceJet, #Whole-Time Director

Chennai, 11.09.2020: Liberty General Insurance Ltd. (Liberty), one of the leading general insurance companies in India has always been at the forefront of bringing value-driven products for its customers, and exploring new avenues to reach out to them, thus providing innovative insurance solutions according to their ever-changing needs. Bearing this in mind, Liberty and SpiceJet, India’s leading airline, have partnered together to offer ‘Liberty Secure Travel’ insurance policy to consumers who book airline travel through SpiceJet’s website and mobile site.

Applicable across SpiceJet’s domestic network, Liberty’s new Zero Cancellation service offered under the Liberty Secure Travel Policy allows passengers to seamlessly cancel tickets and claim full reimbursement of the cancellation charges in case they are unable to fly due to any unavoidable circumstances. Customers can avail the offering by paying an additional nominal fee and adding the insurance cover while booking the flight ticket.

With Zero Cancellation insurance, passengers can claim a full cancellation fee reimbursement for a flight booking made in advance, not beyond 90 days. The sum insured in the event of a ticket cancellation is Rs. 5000/-. The premium for a single passenger on a single flight booking will vary anywhere between INR 399/- for bookings made in advance of a minimum of 7 days to INR 643/- for a maximum of 30-90 days.

Speaking on the development, Mr. Roopam Asthana, CEO & Whole Time Director, Liberty General Insurance said, “Through our partnership with SpiceJet we expect increased penetration of insurance by leveraging their platform. We plan to reach out to consumers with a relevant travel insurance solution when they book through SpiceJet’s website or mobile site. This product will offer peace of mind, flexibility and cost savings to SpiceJet passengers in these unprecedented times.”

Ms. Shilpa Bhatia, Chief Commercial Officer, SpiceJet said, “Most leisure travellers tend to book in advance for their much-awaited holidays to get the best fare deals. However, last-minute cancellations due to an emergency is the biggest worry faced by most passengers. Now, SpiceJet with its unique Zero Cancellation service takes away that worry and allows passengers to book freely, in advance or closer to the date of travel without any fear of cancellations charges. SpiceJet’s Zero Cancellation service comes at a nominal cost and aims to ensure peace of mind for our passengers. With our Zero Cancellation service, we want to ensure not just the safest but a complete worry-free travel experience for our customers.”