SpiceJet, India's favourite airline, has announced the appointment of EaseMyTrip (EMT) as a General Sales Agent (GSA) for select market section in India. This strategic partnership aims to enhance the promotion and sale of SpiceJet's products and services in select markets.
This collaboration showcases the commitment of both companies to deliver exceptional travel experiences and convenience to customers.
The appointment of EaseMyTrip as a General Sales Agent will commence from 1st August, 2023. With their extensive network and expertise in the travel industry, EaseMyTrip will play an important role in boosting sales. As the GSA, EaseMyTrip will actively promote SpiceJet's services, leverage its distribution channels, and employ all necessary measures to enhance the distribution and network of SpiceJet.
SpiceJet had recently announced plans to revive its grounded fleet with the $50 million funds received by the airline from the government's Emergency Credit Line Guarantee Scheme (ECLGS) and internal cash accruals in time for the peak winter travel season. As part of this revival plan, two grounded aircraft have already joined the fleet and more planes are expected to return back to service soon.
As part of the revitalization program, the airline has also partnered with FTAI Aviation Ltd., a leading aftermarket provider of engine services. FTAI will provide SpiceJet with up to twenty engines for lease, inclusive of maintenance services. By leveraging FTAI Aviation's engine expertise, SpiceJet will have access to a pipeline of available engines which eliminates the need for frequent shop visits.
SpiceJet will also see the return and induction of three Q400s following a settlement agreement with Nordic Aviation Capital and will induct ten B737s beginning winter schedule.
Shilpa Bhatia, Chief Commercial Officer, SpiceJet, said, "I am pleased to announce the appointment of EaseMyTrip as a General Sales Agent of SpiceJet for select market section in India. With their extensive experience, strong industry connections, and deep understanding of the Indian market, we are confident that they will drive our sales efforts to new heights. We look forward to a successful collaboration that will elevate our brand and enhance customer experience."
"We are elated to be partnering with SpiceJet and will be able to gain additional momentum and propel towards becoming a leader in the air ticketing industry within the next 18 to 24 months. With this collaboration and the potential for future acquisitions, we are presented with a fantastic opportunity for growth. We are eagerly anticipating the exciting possibilities that lie ahead as we further explore our partnership with SpiceJet," said Nishant Pitti, CEO and Co-Founder, EaseMyTrip.
SpiceJet and EaseMyTrip share a common goal of enhancing the travel experience for passengers by offering affordable fares, extensive route networks, and superior customer service. This partnership will enable both companies to unlock new opportunities, expand their customer base, and reinforce their positions in the highly competitive Indian aviation market.
Shares of SPICEJET LTD was last trading in BSE at Rs. 29.50 as compared to the previous close of Rs. 30.39. The total number of shares traded during the day was 1837787 in over 6740 trades.
The stock hit an intraday high of Rs. 30.50 and intraday low of 29.00. The net turnover during the day was Rs. 54774562.00.