SpiceJet Ltd
NSE: SPICEJET BSE: 500285
₹22.16
(-2.76)%
Sun, 08 Feb 2026, 04:50 am
Market Cap31.33B
PE Ratio-
Dividend0
Transportation
Airlines
24.5Kspicejet ltd History
1984
- Incorporated on February 9 as Genius Leasing Finance and Investment Company Limited.
- Business commences on March 14.
- Promoted by S.K. Modi of Modi Group.
- Main objective: private air taxi operations.
1993
- Name changed to MG Express Ltd. on February 17.
- Diversifies into domestic aviation; starts passenger and cargo services in May with three Boeing 737-200 aircraft.
- Enters agreement with Lufthansa for spares, services, maintenance and crew training; DM 102,000 per plane monthly for dry lease.
- Offers first class and economy services; establishes telecommunication lines.
- Plans second phase: dry lease four Boeing 737-400 (three with 150 seats, one with 164) and one 737-200.
- Enters agreements with Swissair, KLM-Royal Dutch, Qantas, Air Canada and others.
- Allots 200,000 shares to public; issues 240 million equity shares of Rs. 10: 214 million rights (107:1), 24 million reserved for Modi Threads Ltd. shareholders, 200,000 to employees, 150 million preferential to business associates.
1994
- Signs MOU with Indian Oil Corporation in September for aviation turbine fuel imports; first consignment expected January 1995.
- Name changed from MG Express Ltd. to Modiluft Ltd. effective April 12.
- Issues 242 million equity shares of Rs. 10 each at Rs. 30 premium on rights basis in November.
- Opens new stations connecting major business and tourist locations.
- Proposes adding 4 Boeing 737-400 aircraft to fleet.
- Awarded Scheduled Airline status on November 23; obtains IATA Associate Membership.
- Issues 1.50 crore equity shares at par to business associates; total paid-up capital reaches Rs. 39.20 crore.
- Establishes inter-line agreements with major foreign airlines and worldwide sales network.
1995
- Agreement on Technical Support strengthened with Management Agreement on June 28, 1994.
- Sets up working groups for key areas.
- Ties up Frequent Flyer Programme MILES & SMILES with Deutsche Lufthansa AG effective July 1.
- Proposes Rights Issue of Rs. 31.70 crores for aircraft acquisition.
- Mrs. Malvika Poddar and Mr. Bernd Hildenbrand retire by rotation.
1997
- Mr. D.K. Babbar and Mr. Kartik Shanker Aiyer retire by rotation.
1999
- Appoints Millennium Capital Management (Pvt.) Ltd. and Khandwala Securities Ltd. as management and financial consultants.
- Mr. S.K. Modi and Mr. Merchant Bharat Bachubhai retire by rotation.
2000
- Modiluft relaunches as Royal Airways in January.
- Board allots 81,077,500 redeemable preference shares of Rs 10 each to Royal Holdings Service Ltd. USA.
2001
- Mr. Atul Sharma, Mr. Kishore Gupta, Mr. Siddhartha Sharma, Mr. Mansukhlal Kotecha and Mr. Vijay Kumar elected as Directors effective December 31.
- Mr. J.N. Gupta, Mr. S.K. Modi and Mr. B.B. Merchant cease to be Directors effective December 31.
2003
- Re-issues 1,895,348 forfeited equity shares at par on private placement basis.
- Shares delisted by Delhi Stock Exchange effective December 10.
2005
- SpiceJet launches Delhi-Ahmedabad-Mumbai service on May 24.
- SpiceJet launches six-day-a-week services to Jammu and Srinagar on November 11.
- Company changes name from Royal Airways Ltd. to SpiceJet Ltd.
2006
- SpiceJet ties up with Indiatimes.
- SpiceJet joins hands with Nomura on August 15.
2007
- Mr. Osman Qureshi appointed director (nominee of Istithmar PJSC).
2010
- SpiceJet orders 30 Boeing 737-800 aircraft to expand fleet to 58 planes.
2011
- Mr. S. Sridharan appointed Whole Time Director.
- Mr. R Neelakantan appointed Chief Financial Officer.
- Awarded Best Website at World Low Cost Airlines Asia Pacific Conference.
- Voted India’s Best Low Cost Airline by Outlook Traveller.
- Registered office shifted to Murasoli Maran Towers, Chennai.
2012
- Mr. Chandan Sand appointed GM (Legal) and Company Secretary.
- SpiceJet gets DGFT nod to directly import ATF.
- Voted India’s Favourite Domestic Airline by Outlook Traveller.
- India’s International Low Cost Carrier of the Year by Travel Agents Association of India.
- India’s Most Outstanding Airline LCC-Domestic Award by Travel and Hospitality.
2013
- SpiceJet and Tigerair strengthen India-Singapore links via interline.
- SpiceJet introduces low-cost Sharjah-Lucknow flight.
- SpiceJet starts Pune-Sharjah flights from September 21.
2014
- SpiceJet offers festival season sale.
- SpiceJet launches Rs 499 and Early Bird offer.
- SpiceJet flights grounded amid turbulence.
- SpiceJet extends Rs 1,999 monsoon offer pan-India.
- JPMorgan and Singh plan $200 mn investment in SpiceJet.
2015
- SpiceJet launches new mobile app.
- SpiceJet launches Happy New Year Sale.
- SpiceJet flags off direct flight to Dubai from Amritsar.
- SpiceJet announces direct flight from Chennai to Bangkok.
- SpiceJet initiates major network expansion with six new aircraft.
2016
- SpiceJet introduces new flights from Kolkata starting October 4.
- SpiceJet offers tickets starting at Rs 888 for festive season.
2017
- SpiceJet inks mega deal with Boeing for up to 205 jets.
- SpiceJet launches daily direct flight from Kolkata to Dhaka.
- SpiceJet unveils Khel Yatra for underprivileged children in Delhi.
- SpiceJet starts Delhi-Bangkok direct flight.
- SpiceJet and Boeing ink MoA for 40 737 MAX airplanes.
2018
- SpiceJet announces 20 new domestic flights from February 11.
- SpiceJet inks $12.5 bn deal with Safran for aircraft engines.
- SpiceJet announces 14 new domestic flights.
2019
- SpiceJet starts eight new domestic flights from March 1.
- SpiceJet becomes first Indian budget carrier to join IATA.
- SpiceJet launches 14 new flights under UDAN scheme.
- SpiceJet starts Dharamshala-Jaipur air service.
- SpiceJet introduces 16 Boeing 737-800 NG aircraft and appeals for NOC to import.
2020
- SpiceJet launches 20 new flights on domestic routes.
- SpiceJet designated as Indian scheduled carrier to UK.
2021
- SpiceJet ties up with WheelTug Plc for 400 production slots of electric taxi system.
2022
- Safety Performer of the Year award by DIAL.
- Bronze Stevie award for Customer Service Complaints Team of the Year.
- Wings India Aviation Innovation Award.
- SpiceJet introduces six new flights connecting key metros with Bangkok.
- SpiceJet receives global award for exceptional Customer Complaints Management.
- SpiceJet introduces new flight connecting New Delhi and Pantnagar.
- SpiceJet and Axis Bank launch co-branded credit card.
- SpiceJet completes seven years of flying with highest occupancy in India.
2023
- Best Cargo Carrier award at ASSOCHAM 14th International Civil Aviation Conference & Awards.
- Bronze Stevie award for Customer Service Department of the Year.
- SpiceJet launches 12 new flights to Goa Manohar International Airport.
- SpiceJet completes SpiceXpress hive off.
- SpiceJet launches BagProtekt service to secure baggage.
- SpiceXpress partners with Ekart for first and last mile cargo delivery.
2024
- Spicejet recognised by DGCA as Best Airline in addressing grievances for 15 consecutive months.
- SpiceXpress expands domestic cargo network in partnership with Star Air.
- SpiceJet introduces non-stop flights connecting Ayodhya with Chennai, Bengaluru and Mumbai.
- SpiceJet completes first tranche of capital infusion aggregating INR 744 crore.
- SpiceJet introduces non-stop Hyderabad-Ayodhya flights.
- SpiceJet launches UDAN flights connecting Shivamogga with Chennai and Hyderabad.
- SpiceJet launches 32 new flights for winter schedule, expanding domestic and international connectivity.
- SpiceJet collaborates with StandardAero Inc. for return to service of 737-8 MAX aircraft.
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Pocketful Fintech Capital Private Limited (CIN U65999DL2021PTC390548) | The SEBI Registration No. allotted to us is INZ000313732. NSE Member Code: 90326 | BSE Member Code: 6808 | MCX Member Code: 57120 DP | CDSL: 12099800