Under the agreement's terms, SpiceJet will acquire full ownership of 13 EDC-financed Q400 aircraft, bolstering the airline's operational capabilities and fleet management.
Shares of SpiceJet Ltd zoomed 13% in the afternoon session today after the airline said it along with Busy Bee Airways, have jointly submitted a bid for acquiring bankrupt airline GoFirst. Shares of SpiceJet rose 13% to Rs 71.90 on BSE. Market cap of the airline rose to Rs 4,858 crore. The bid has been submitted by Ajay Singh, Chairman and Managing Director of SpiceJet, in his personal capacity, along with Busy Bee Airways Private Limited, SpiceJet said.