While passengers of Emirates will be able to access the SpiceJet network first from early 2020, SpiceJet passengers travelling from India to Dubai will also be able to access Emirates' expansive network later, opening up multiple international connections for them.
While constantly complaining of ultra high operating cost — fuel for domestic flights being costliest in India — and fares that do not cover costs leading to losses, all big and emerging Indian carriers (except divestment-bound Air India) are adding planes at a furious pace. Then to fill them up, they offer low fares.
The tieup is commercial and SpiceJet to collaborate with Gulf Air in engineering, cargo, personnel.
"SpiceJet and Gulf Air will look at collaborating in the field of pilot training to nurture talent in order to deliver the finest resources for both the airlines. The airlines will also engage and collaborate to enhance their respective cargo and engineering services," the Indian budget carrier said in a statement.
In a release, SpiceJet said the net loss of Rs 462.58 crore in the latest September quarter was mainly on account of inflated costs with respect to MAX grounding and a seasonally weak quarter.
The private carrier's losses widened despite it posting a 52% increase in second quarter operational revenue to 2,845.3 crore as it added more destinations and expanded its fleet of passenger and freighter aircraft.
Muthoot Finance, HUDCO, NIA and Cadila Healthcare will be among firms that will disclose quarterly results on Wednesday.
With the latest pledge of shares, a total of 26.32 per cent shareholding of Singh is now encumbered.
Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service