Get ready to fly in swanky, new SpiceJet planes soon!

Good days have certainly come for SpiceJet, the Gurgaon-based airlines and India's fourth largest carrier. It is in talks with aircraft manufacturers to add at least 150 planes in its fleet. It is to be noted that in the past three quarters, SpiceJet has consecutively reported profits.

Out of these new planes to be ordered, around 100 would be narrow-bodied Boeing 737 MAX or Airbus 320 Neo, and 50 would be the tentative turboprop aircraft order. The order would be placed by the end of this financial year. At present, SpiceJet fleet boasts off 25 Boeing, two Airbus (on wet lease) and 14 Bombardier aircraft.

This change from Boeing to Airbus is further encouraged by the draft civil aviation policy, which has put emphasis on carriers to fly regional routes.

"We have no intentional of ordering long-haul aircraft. At this point, we are not even looking at the long-haul market. We think there is a fantastic market in the four-hour range," Singh told ET.

Market is abuzz with news that SpiceJet is looking out for a strategic investor. "At this valuation it doesn't make sense to dilute...especially when the firm doesn't need cash," Singh said. "We are in a strong position."

"The orders will be placed first and any investment into the airline will come only after the aircraft order. We may not need that much because there are various lines open," he continued.

Talking of competition, IndiGo which is presently leading the market, has 430 Airbus aircraft ordered, while Jet Airways ordered 75 Boeing 737 Max earlier this month.

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