With more planes grounded, spot airfares may defy gravity

Get ready for a sharp rise in spot airfares with an unprecedented high number of Indian carriers’ aircraft grounded. Thirteen Boeing 737 Max of SpiceJetwere grounded on Tuesday night after India also issued this order after a host of other countries like China, Indonesia, Malaysia, UK, Australia and Singapore, to name a few.

The SpiceJet’s Max will have several other grounded planes for company. Struggling-to-survive Jet Airways has over 54 out of its fleet of 119 planes grounded. Jet founder Naresh Goyal has, in fact warned Etihad that the airline may get grounded unless the Abu Dhabi-based carrier pumps in Rs 750 crore in Jet this week.

IndiGo has cancelled 30 flights daily till early April due to pilot shortage. GoAir is also not operating some planes. At least 23 aircraft of Air India, a mix of wide and narrow body, Read More

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