The no-frills airline, that saw a change in ownership early this year amid turbulent business conditions, is also looking to consolidate its market position.

According to the report, such an order would improve the structural costs driven by long term contracts.

Earlier this week, sources had said that SpiceJet plans to place an order for about 150 new aircraft and in this regard, the airline is in talks with various manufacturers, including Airbus and Boeing.

Currently, the airline has around 41 planes in its fleet, including 25 Boeing 737s, 14 Bombardier Q400s and two leased Airbus 320 family.

Further, the airline said pricing of air travel is now reflective of the underlying cost structure.

Remaining profitable for the third straight quarter, SpiceJet posted a net profit of Rs 23.77 crore in the three months ended September.

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