Mumbai: Low cost carrier SpiceJet Ltd expects a period of consolidation in the Indian airline industry over the next 12 to 24 months and will look at buying opportunities, a senior official said on Wednesday.
“The next 12-24 months can see some consolidation in the industry as the landscape is too small for so many players,” chief executive Sanjay Aggarwal said in a press meet.
“SpiceJet could be a buyer, we could look at consolidation opportunities,” he added.
SpiceJet, which posted a net loss of about Rs18 crore in October-December, has raised air fares earlier this month in a bid to boost margins.
Aggarwal also said SpiceJet could breakeven by FY’10 if economic conditions remain similar to what they are right now.