SpiceJet has secured a Memorandum of Understanding to induct 10 new aircraft, marking a fresh milestone in the budget carrier's ongoing recovery and capacity expansion drive. The development follows the airline's board approval last week for a calibrated fleet ramp-up to 60 aircraft through a combination of wet and damp leases, along with the phased return of currently grounded planes to active service.
The airline has already doubled its capacity over the last quarter, with Available Seat Kilometres rising from approximately 55 crore to 105 crore, reflecting a sharp improvement in network strength. Building on that progress, SpiceJet now targets 220 crore ASKMs and more than 300 daily flights across its domestic and international network by Winter 2026.
Debojo Maharshi, Chief Business Officer at SpiceJet, noted that the capacity growth reflects strengthening confidence across the business. He said the new MoU is an encouraging development as the airline continues to rebuild operations in a measured and sustainable manner, with a clear emphasis on restoring connectivity and improving reliability for passengers.
SpiceJet's passenger market share has climbed from 2.2 percent to 4.3 percent over just three months, while daily departures grew from 100 flights in September 2025 to 175 by December 2025. Revenue from operations surged 77 percent quarter on quarter to Rs 1,384 crore in Q3 FY26, alongside a passenger load factor of 90 percent, pointing to robust demand across its routes.
The expansion strategy is designed to strengthen route connectivity, improve schedule reliability, and meet rising passenger demand while adhering to a disciplined growth model. The airline has also made progress on its balance sheet, settling a long-standing dispute with Credit Suisse and receiving a liquidity boost through a strategic arrangement with Carlyle Aviation Partners.
SpiceJet operates in one of the world's fastest-growing aviation markets, competing against dominant players including IndiGo, the Air India group, and Akasa Air. Analysts will be watching closely to see whether the carrier can convert its operational momentum into sustained profitability as it scales toward its Winter 2026 targets.