Under the pact, GE will provide flight data analytics and fuel management to optimise the SpiceJet's operational efficiency, which aims at substantially reducing airline's USD 600 million fuel bills, a release said.
Jet engines, components and integrated systems provider, GE Aviation today said budget carrier SpiceJet Airlines has chosen its flight efficiency services (FES) to substantially reduce its USD 600 million annual fuel bill.
Under the pact, GE will provide flight data analytics and fuel management to optimise the SpiceJet's operational efficiency, which aims at substantially reducing airline's USD 600 million fuel bills, a release said.
Deliveries for the program will begin from later this month, the release said.
Media baron Kalanithi Maran-promoted SpiceJet currently has 52 Boeing 737 and Bombardier Q400 aircraft in its fleet. "India has among the highest jet fuel prices in the world. We are excited about the partnership with SpiceJet and look forward to working with them to realize substantial savings," GE Aviation president for avionics and digital systems Alan Caslavka said in the release.
As part of the contract, GE will provide consultation and evaluation services with the aim of reducing the airline's fuel consumption and carbon emissions. GE is also designing and implementing custom solutions for SpiceJet and performing on-going efficiency measurements, the release said.
SpiceJet stock price
On July 15, 2014, SpiceJet closed at Rs 17.95, up Rs 0.45, or 2.57 percent. The 52-week high of the share was Rs 30.35 and the 52-week low was Rs 12.50.
The latest book value of the company is Rs -22.24 per share. At current value, the price-to-book value of the company was -0.81.
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