SpiceJet cargo arm set for IPO

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.

• SpiceXpress’ new 737-800 freighter to commence operations in South Asia

• Rajiv Gandhi International Airport adds SpiceJet freighter operation

• SpiceJet takes delivery of first freighter as it prepares for cargo flights

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.