SpiceJet is a low-cost airline based in New Delhi, India. It began service in May 2005 and by 2008, it was India\s second-largest low-cost airline in terms of market share. SpiceJet was voted as the best low-cost airline in South Asia and Central Asia region by Skytrax in 2007. Rising fuel costs and increasing competition resulted in SpiceJet posting a loss in the first quarter of 2008-09. In August 2008, SpiceJet announced plans to raise US$100 million through foreign investment.
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