SpiceJet sets record by topping occupancy rates for 50 months

SpiceJet, the fastest growing airline in India, said 93.9% of its available seats for the month of May were filled, marking a record 50 months in a row when the company has topped the occupancy chart in India.

“This is a feat unparalleled in global aviation industry and a huge milestone for SpiceJet,” said Shilpa Bhatia, Chief Sales & Revenue Officer, SpiceJet.

The record underlines the success of the airline, which has seen two promoter changes in its 15-year history.

The company was started by entrepreneur Ajay Singh in 2004 by buying what remained of Modiluft.

Hemorrhaged by mounting losses due to rising crude oil prices, the company was rescued by Chennai-based industrialist Kalanidhi Maran in 2012.

However, Maran was unable to bring about a complete overhaul in the airline’s financial performance, and in 2015, Ajay Singh again bought back the controlling stake in the company.

The company, which used the concept of ‘flash sales’ most aggressively in India to promote its sales, has been able to largely remain in the black since then.

Unlike rivals, SpiceJet believes in selling its inventory as much as possible. This results in lower per-seat pricing, but also considerably higher occupancy in its planes.

It is currently No.2, after Indigo Airlines, and has been growing fast in recent months. It started nearly six dozen new flights in the last three months as competitor Jet Airways succumbed to financial woes and stopped operations.