SpiceJet, Snowman Logistics jumps on pact for transporting Covid-19 vaccine

MUMBAI: Shares of budget carrier SpiceJet and cold chain logistics company Snowman Logistics rallied after the two also signed a pact for the transportation of Covid-19 vaccine.

At 9:38 am, SpiceJet was up 3.31 per cent at Rs 102.95, while Snowman Logistics jumped 9.32 per cent to Rs 66.85. Earlier in the day, Snowman hit a 52-week high of Rs 69.90.

SpiceJet and Snowman Logistics have signed a memorandum of understanding (MoU) for the movement of COVID-19 vaccine to jointly offer seamless air logistics to Snowman clients and customers by combining their areas of expertise and strength, the airline said in a release.

"Snowman will handle the ground services which includes activities such as transportation to/from manufacturers, warehouses, airports and consumption points, packing, storage and warehousing, in the required temperature zones," the company said in a BSE filing.