Spicejet shares rose 293% during the year.Reuters

SpiceJet on Thursday announced a discount sale 'Freedom to Fly', under which the company is offering 1 lakh tickets for one-way travel, with fares starting as low as Rs 799 (excluding taxes).

The budget airline said that there would be an additional 10% discount on tickets booked through its mobile app on Apples iOS and Android.

The one-way fare for the offer ranges from Rs 799 to Rs 2,699 and covers major destinations, including Delhi, Mumbai, Goa, Bengaluru, and Srinagar. 

The lowest fare of Rs 799 is offered for routes such as Delhi-Chandigarh, Mumbai-Goa, Bengaluru-Kochi, Madurai-Chennai, Jammu-Srinagar and Kolkata-Agartala. 

The offer will be available for three days starting from 20 August, 2015, for travel between 25 August, 2015 and 26 March, 2016.

To avail the offer, passengers can book tickets on the airline's website, mobile app, on travel portals and through travel agents.

Cheaper crude oil prices have enabled domestic airlines to roll out aggressive discounts for passengers. Last week, GoAir, Jet Airways, Vistara and Air Costa had also announced discount offers on the eve of the 69th Independence Day.

Jet fuel prices have fallen by nearly 40% from a high of about Rs.80,000/kl last year. In the latest cut, aviation turbine fuel prices (ATF) have been reduced by 9.5%, or Rs.4,860, to Rs.46,407/kl.

Fuel expenses of Spicejet declined sharply by 53.6% to Rs.359 crore in the June 2015 quarter as compared to Rs.773 crore in the same period last year. The company was also able to reduce its costs by 42% in the quarter ended June 2015.

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