Ever since Jet Airways' downfall, many other airlines including IndiGo and SpiceJet have been hiring employees from the airline. Recently, in a statement, SpiceJet Chairman and Managing Director Ajay Singh said, "We have taken around 1,100 people so far. Expectation is that we will go up to 2,000 people. It will be pilots, cabin crew, (people) from airport services, security."
SpiceJet is looking to expand its capacity this year and hence it is adding more people and making more investments to grow the business.
It has also taken at least 22 planes that were earlier used by Jet Airways, which temporarily shuttered its operations due to cash crunch in April.
Currently, SpiceJet has around 14,000 staff and about 100 planes. It operates around 575 daily flights on an average to 62 destinations, including nine international ones.
Now, the airlines will be expanding 80 percent capacity this year (fiscal).
Singh shared, "A lot of the capacity is being expanded through the leasing route. Therefore, it may not require huge amount of cash and this year we also expect to be significantly profitable. Also, get significant cash flow through sale and lease back. So, we think that we probably don't need to dilute any equity.
He suggested that airline is quite comfortably placed in terms of finances. In fact, on May 28, SpiceJet posted a 22 percent rise in net profit to Rs 56.3 crore in the three months ended March.
Singh aspires to see India as a global aviation hub and for that to be possible he believes Indian carriers will have to fly long haul.
With their new expansion plan, he aims to contribute towards this vision. How it hires and absorbs more employees from Jet Airways, stands at par with other airlines like Boein and Air India, and how Singh and his team works towards making India a global aviation hub are a few things to watch out for.