SpiceJet, the country's favourite carrier, signed a Memorandum of Understanding (MoU) with Gulf Air, the national carrier of the Kingdom of Bahrain, to explore greater cooperation between the two airlines including an interline and codeshare agreement, coordinated cargo services, engineering services and pilot training.
The MoU was signed by Ajay Singh, Chairman and Managing Director, SpiceJet and Krešimir Kučko, Chief Executive Officer, Gulf Air, here in New Delhi on November 20.
Besides looking at a codeshare and interline agreement, the scope of the MoU includes the two airlines exploring growth opportunities beyond network expansion by leveraging each other's strengths. SpiceJet and Gulf Air will look at collaborating in the field of pilot training to nurture talent in order to deliver the finest resources for both the airlines. The airlines will also engage and collaborate to enhance their respective cargo and engineering services.
Ajay Singh, Chairman and Managing Director, SpiceJet said, "I am extremely happy at the signing of this MoU and the beginning of this new partnership between SpiceJet and Gulf Air. This partnership will immensely benefit the two airlines and our passengers in times to come. These are exciting times for SpiceJet as we pursue our international expansion plan. We are developing an extensive portfolio of destinations both at home and in international markets. The Middle East has always been among our top priority markets. This agreement is going to play a very important role for SpiceJet's next phase of growth as we continue to explore the innumerable opportunities around us."
Krešimir Kučko Chief Executive Officer, Gulf Air, said: "This is a historic event for both Gulf Air and SpiceJet as we strengthen commercial ties between the two carriers; creating more choices for our valued passengers to explore new cities across our networks. We have a longstanding relationship with the Republic of India and we feel proud to work closely with our new friends at SpiceJet."
The signing of this MOU between the two carriers aims at initiation of collaboration between the two carriers, and further strengthening the strong ties between India and the Kingdom of Bahrain.
Shares of SPICEJET LTD. was last trading in BSE at Rs.109.4 as compared to the previous close of Rs. 106. The total number of shares traded during the day was 601400 in over 7197 trades.
The stock hit an intraday high of Rs. 111.35 and intraday low of 107.55. The net turnover during the day was Rs. 65731414.