Spicejet Expansion Plans : Domestic airline SpiceJet will add 10 more planes to its fleet by next month. The first plane will be inducted into the fleet on October 10. SpiceJet said in a press release on Monday that seven of these planes will be leased, while three planes that are lying idle are being inducted into the fleet again. SpiceJet's stock has gained momentum amidst this news. At around 2:15 pm on BSE, SpiceJet's stock is at Rs 62.70 with a gain of 9 percent. Whereas on Monday it closed at Rs 57.56. Its market capital is a little more than Rs 8000 crore. Its 52-week peak has been Rs 79.90 and the lowest level has been Rs 34. SpiceJet's stock has climbed 81 percent in the last one year.

How many planes does SpiceJet have?

According to the live aircraft fleet tracking website planespotter.net, Gurugram-headquartered airline SpiceJet has only 19 operational aircraft while 36 planes were grounded as of October 8.

What is the company's plan?

SpiceJet Chairman and MD Ajay Singh said, "These additional aircraft (10 aircraft) are important as we strengthen our operational capabilities while meeting the growing demand for air travel."

This announcement comes after SpiceJet received fresh capital of Rs 3,000 crore through qualified institutional placement (QIP) last month.