SpiceJet share price rises over 5% as airline launches 8 new international flights

Share price of SpiceJet, the country's budget carrier, rose over 5% today, a day after the airline launched eight new daily non-stop international flights from the country's busiest metros of Mumbai and Delhi in July.

SpiceJet stock opened at yesterday's closing value of Rs 125 and rose 5.43% to touch an intraday high of Rs 132 on BSE.

The stock price of SpiceJet currently trades at Rs 130.3 on BSE, at a gain of 4% or 5.10 points, with a volume of 13.7 lakh shares.

SpiceJet share price has risen 6.06% in the last 2 days. The stock is trading below 30 and 50-day moving average, although it trades above 150 and 200-day SMA.

"We are delighted to add Riyadh as our tenth international destination and add more flights to Jeddah and Dhaka thus providing our passengers with multiple flight options. SpiceJet is the only Indian  budget  airline to operate to Saudi Arabia and our new flights to Riyadh and Jeddah should greatly benefit the thousands of pilgrims traveling from India," Ajay Singh, CMD of SpiceJet commented in the regulatory filing submitted yesterday, after market hours.

The  announcement further added that the airline is the first Indian LCC to connect Mumbai with Riyadh and Dhaka and Delhi with Dhaka and Jeddah. The latest eighth addition of flight to Riyadh will commence on August 15, while flights to Dhaka and Jeddah will begin from the last week of July, 2019.

With the launch, the airline has also introduced promotional fare on all international routes. The airline will be using 168-seater Boeing 737-800 aircraft on all these routes.

(Edited by Rupa Burman Roy)

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