SpiceJet displaces Jet Airways to become 2nd most valued Indian airline

Back in 2015, SpiceJet, the low-cost airline headquartered in Gurgaon, was on the verge of closing down before it was sold back to its original promoter Ajay Singh for just Rs 2.

This surely breathed a new life in the airline company and it is evident as SpiceJet has left behind Jet Airways, which is much larger than SpiceJet, in terms of market capitalisation, to become the second most valued Indian airline.

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SpiceJet ranked second most valued Indian airline with a market cap of Rs 5,599 crore, as compared to Jet Airways' Rs 5,464 crore, as per BSE’s Thursday data. IndiGo leads the industry with a market cap of about Rs 35,300 crore.

A report by SBICap Securities says that by the end of this fiscal, SpiceJet should have 50 aircraft in its fleet, as compared to Jet Airways’ 113 and IndiGo’s 132.

(Image source: Gopika Chowfla Design)