The airline will operate its first commercial flight on May 23 with services between Delhi and Mumbai via Ahmedabad, Spicejet CEO Mark Winders told reporters in New Delhi.
"We are not only committed to extending the low airfare phenomenon to India, but we also want to link it to strong quality quest services focus," he said.
The airliner launched its Web site for online ticket bookings and offered the first ticket to Union Tourism Minister Renuka Chowdhury who was present on the occasion.
The company will charge airfare slightly above that of AC-III tier trains, Winders said, adding that "a whole new market is coming up in the low-cost travel."
The airline will offer 9,000 tickets for Rs 99 during the offer period with a minimum of five and a maximum of 20 seats on each flight.
Spicejet will launch its operation on Monday with two aircraft and gradually expand its services after it adds another plane to its fleet in June.
"By January 2006, we plan to add 10 brand new Boeing 737-800 aircraft and target to have a fleet of 20-30 airplanes in the next two-three years," Winders said.
While Spicejet has entered into an agreement with KLM for maintenance support, it has decided to keep the ground handling with itself.
Asked about finances, Ajay Singh, promoter and director of the airline, said the company had a start-up investment of $25 million of which 60 per cent came from the promoters, 20 per cent from FIIs and the balance from the public.
"The investments will increase as expansion plans take off," he said.
The airline, first to be listed on the Bombay Stock Exchange, aims to break even within the first six months of launching operations, Singh said. -- PTI
Tourism Minister Renuka Chaudhury shows the first e-ticket issued by newly launched low-cost air carrier Spicejet in New Delhi on Tuesday. To her right is Mark Winders, CEO of Spicejet.
Photograph: Ranjan Basu / Saab Pictures