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Ajay Singh, Chairman and Managing Director of Spicejet , said the performance of the airline has been creditable given the fact this is the weakest quarter for industry. Demonetisation will give rise a temporary blip, but hopefully things will normalise in the following quarter, he said. Fuel prices have hovered in the USD 45-55 range, which is comfortable for the industry, he maintained. Spicejet hasn’t had a huge impact, but it is bracing for ripple effect, he said, adding that bookings and international travel will likely take a hit from the cash ban. He expects industry to grow at about 20 percent in this fiscal year.
He spoke of fleet expansion plans as well. They have placed orders for new aircraft which will be delivered between 2018-2024. Short-term fleet expansion plans include leased planes.