SpiceJet will lease 16 additional Boeing 737-800s to cover capacity shortages caused by the grounding of its 737 Max jets and to facilitate further growth. The carrier says it has applied for no-objection certificates from the DGCA to allow it to import the 737s. Subject to that approval, the first of the jets should join the fleet in the next 10 days. SpiceJet did not identify which lessors are supplying the additional aircraft but appeared to point to the rapid decline of rival Jet Airways’ operations as a factor driving the decision. “The sudden reduction of aviation capacity has created a challenging environment in the sector,” says the airline’s chairman and MD Ajay Singh. “SpiceJet is committed to working closely with the govt authorities to augment capacity and minimise passenger inconvenience.” <br/>
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Southwest Airlines has revamped its schedule through Aug 5 to account for not having its 34 Boeing 737 MAXs as the model’s grounding continues to keep operators shuffling their schedules and fleet plans. “While the timing for the return to service of the MAX remains unclear, what is very clear is our commitment to operate a reliable schedule and provide the famous customer service you expect from us,” Southwest president Tom Nealon said. “Our revised summer schedule allows us to accomplish those objectives.” The carrier operates more MAXs than any other airline, and flew about 200 daily departures with them before FAA issued an operational ban March 13. Schedule changes, cancellations and crew-scheduling disruptions are the most common ramifications of the global grounding of all 376 MAXs in service. <br/>
China’s Juneyao Airlines reported a 2018 net profit of CNY1.2b (US$174.5m), down 7.7% from CNY1.3b in 2017. This was the first time the company's profits have dipped since 2012. After deducting non-recurring gains and losses, the net profit further fell 19.1% year-over-year to CNY943.7m. Juneyao’s results were remarkably better than China’s “Big 3” major state-owned carriers, which all saw profits drop by more than 50%. Juneyao said its total revenue was up 15.8% YOY to CNY14.3b; however, the company did not reveal operating costs in its annual report. The carrier said bank interest rates, devaluation of the Chinese currency against the greenback and rising fuel prices had a direct impact on the company. As China relies heavily on oil imports, the weak yuan against the US dollar pushed the cost for jet fuel higher. <br/>