SpiceJet witnessed a remarkable 12% surge in its stock on Friday following the joint bid submission for the crisis-stricken GoFirst airline. The bid, jointly presented by SpiceJet’s CMD Ajay Singh and Busy Bee Airways Private Limited, marks a significant move in the aviation sector.
Ajay Singh, alongside Busy Bee Airways Private Limited, submitted the bid, with SpiceJet set to act as the operating partner for the proposed new airline. In an exchange filing, SpiceJet confirmed its role, highlighting its commitment to providing staff and services for the venture.
The collaboration between SpiceJet and Busy Bee Airways Private Limited is expected to foster synergies, enhancing cost management, revenue growth, and market positioning within the Indian aviation industry, according to SpiceJet.
As of 3:23 PM, SpiceJet shares continued their upward trajectory, trading 11.47% higher at ₹70.93, reflecting investor optimism surrounding the bid submission and the potential opportunities it presents.
