More cancellations? SpiceJet cuts fleet size further as it looks to lower costs

SpiceJet Ltd has cut the size of its fleet to 22-24 Boeing planes from 35 in September and will maintain that for "the near and medium term", its chief operating officer said, as the loss-making budget carrier looks to cut costs.

The airline, which has lost money for five consecutive quarters, had intended to reduce the size of its fleet for a short time and then start expanding again early next year, but has decided that it must stay smaller for longer, Sanjiv Kapoor said.

"The decision to shrink is part of our restructuring," Kapoor told Reuters in a telephone interview.

Reuters