SpiceJet cargo arm set for IPO
25 / 09 / 2019
Image source: SpiceXpress
SpiceJet is planning to launch an initial public offering for of its SpiceXpress cargo air, according to a Bloomberg report.
The India-based airline’s chairman Ajay Singh said in an interview with the newswire that the B737 operator could be listed on a stock exchange within 12 months.
Singh pointed out that India has a population of 1.3bn people, one of the fastest growing economies in the world and very few domestic freighter operators.
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The only real significant player in the market is DHL’s joint venture Blue Dart with a fleet of six Boeing 757s.
SpiceXpress, meanwhile, took delivery of its third freighter – a B737-800BCF – earlier this week and has a fourth aircraft waiting in the wings. The airline also operates two B737-700Fs.
The Bloomberg report states that the airline is hoping to offer a fleet of 10 freighters by the end of the year.