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SpiceJet to reduce fleet, workforce in cost-cutting bid

Friday, September 19, 2014 - 00:00
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Tightening: SpiceJet is shrinking the size of its fleet and workforce to lower costs in one of the world's most expensive markets for airlines. - PHOTO: BLOOMBERG

[NEW DELHI] SpiceJet Ltd, the Indian budget airline that has posted four straight quarterly losses, is seeking to lower costs by flying fewer and newer aircraft to return to profit amid intensifying competition from AirAsia Bhd. The airline returned two 14-year-old aircraft to lessors three