SpiceJet gets over Rs 900 crore funding, focus on cost-cutting measures
The latest installment came recently after its Chairman and Managing Director Ajay Singh infused funds into the airline.
Share price of SpiceJet on Friday surged 4 per cent after the airline announced its partnership with Om Logistics. The company also said that it has signed a pact with Snowman Logistics, for transportation of COVID-19 vaccine.
On the BSE, the stock was trading up by 4.67 per cent to Rs 104.30. It had earlier touched a high of Rs 106, up by 6.37 per cent, during early hours of the trade.
Similarly, on the NSE, it was trading at Rs 103.60, up by 3.91 per cent.
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The airline said its dedicated freighters, operated under the SpiceXpress cargo division, are capable of transporting sensitive drugs and vaccines in controlled temperatures ranging from (-) 40 degrees celsius to (+) 25 degrees celsius, both domestically as well as internationally.
SpiceJet and Snowman Logistics have signed a memorandum of understanding (MoU) for the movement of COVID-19 vaccine to jointly offer seamless air logistics to Snowman clients and customers by combining their areas of expertise and strength, the airline said in a release.
The Ajay Singh-owned private airline, which along with passenger aircraft also runs a dedicated freighter fleet under its SpiceXpress cargo division, also announced partnering with Om Logistics for COVID-19 vaccine transportation.
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