SPICEJET to expand cargo services

SpiceJet is looking to not only expand its passenger operations but also its cargo services, both domestically and internationally. The airline plans to induct 50 Boeing 737 Max aircraft by December 2023, said Ajay Singh, Chairman, SpiceJet. Twenty additional cargo planes will be added in the next two years, the officials said. The airline may spend $2.5 billion to $3 billion to expand its cargo operations over the next few years. “A fleet of 10 to 12 wide-body planes and 10 freighter narrow-body ones will be sufficient to expand our cargo operations in the next two years. This is above the 17 aircraft we presently have in our cargo operations,” a senior SpiceJet official said. “The business is growing rapidly and we are looking at all opportunities to raise funds to grow this business, and that includes selling a stake,” said Singh. As part of SpiceJet’s cargo expansion plans, the airline aims to create a network for domestic and international operations. It may set up loading docks and storage facilities in India.