Dec 16, 2013, 10.41 AM IST
Shares in SpiceJet jumped over 8% after the company announced a three-year, interline agreement with Singapore-based Tigerair, a move that is expected to increase the carrier's load factor.
Tags SpiceJet, Tigerair, interline, agreement
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SpiceJet jumps 8% on interline pact with Tigerair
Shares in SpiceJet jumped over 8% after the company announced a three-year, interline agreement with Singapore-based Tigerair, a move that is expected to increase the carrier's load factor.
Like this story, share it with millions of investors on M3
SpiceJet jumps 8% on interline pact with Tigerair
Shares in SpiceJet jumped over 8% after the company announced a three-year, interline agreement with Singapore-based Tigerair, a move that is expected to increase the carrier's load factor.
An interline agreement involves issuing tickets for passengers with multi-airline itinerary for the partner carrier.
However, unlike a codeshare agreement, in an interline pact, the issuing airline will not stamp its code on the partner carrier's flight.
The deal is expected to remain non-financial and no equity investment would be made by Tigerair, the company said.
The Singapore-based low-cost airline, Tigerair, operates in several countries in the Asia Pacific region.
The move is a further indication of the pressure on airline firms, which are high operating costs along with increasing competition. Rival Jet Airways recently announced a stake sale to Abu Dhabi-based Etihad while the Tata Group will soon foray into the business after striking a deal with AirAsia.
Also read: Indian carriers hit air pocket, losses mount
SpiceJet stock price
On December 16, 2013, at 11:09 hrs SpiceJet was quoting at Rs 17.05, up Rs 1.35, or 8.60 percent. The 52-week high of the share was Rs 49.70 and the 52-week low was Rs 15.50.
The latest book value of the company is Rs -3.50 per share. At current value, the price-to-book value of the company was -4.87.
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