SpiceJet shares increase nearly 3% on renewal of IATA IOSA certification

SpiceJet shares: Shares of Gurugram-based budget carrier operator, SpiceJet rose 2.83% and hit an intraday high of ₹46.46 on the BSE after the company informed the exchanges that it has renewed the IATA Operational Safety Audit (IOSA) certification. The stock opened for trading at ₹45.70 and touched an intraday low of ₹45.31 and a high of ₹46.46.

“SpiceJet is proud to announce the successful renewal of its IATA Operational Safety Audit (IOSA) certification, a globally recognised benchmark for operational safety. This achievement reaffirms SpiceJet’s unwavering commitment to maintaining the highest safety and operational standards,” SpiceJet said in a press release. This certification is valid till March 2027.

The IOSA audit, conducted by the International Air Transport Association (IATA), is a rigorous, internationally accepted assessment of an airline’s operational management and control systems.

The company conducted the comprehensive audit in two phases – a remote documentation audit, followed by an on-site assessment from December 9 to 12, 2024. SpiceJet said a team of five international auditors conducted a thorough examination of the airline’s processes, emergency response procedures and risk-based maturity framework.

Ajay Singh, Chairman and Managing Director, SpiceJet, said, “We are delighted to have successfully renewed our IOSA certification, which is a testimony to our airline’s steadfast dedication to safety and operational excellence. Safety is and will always remain SpiceJet’s top priority, and we will continue to invest in the latest technology, training and processes to ensure the highest standards of safety for our passengers and crew.”

Singh said, “Obtaining the IOSA certification not only confirms SpiceJet’s compliance with global safety standards but also enhances its reliability, improves operational efficiency, enhances customer satisfaction and strengthens its competitiveness in the aviation industry.” SpiceJet shares have fallen 16% so far this year, outperforming the Sensex, which was down 0.22% year-to-date (YTD).

SpiceJet’s loss in the December quarter widened to Rs 441.72 crore from a loss of Rs 431 crore in the same period last year. Its revenue from operations fell 36% to Rs 817 crore from Rs 1,281 crore in the year-ago period. As of 12:43 pm, SpiceJet shares were trading 0.66% higher at Rs 45.48, outperforming the Sensex, which was down 0.41%.