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SpiceJet posts net loss of Rs198 crore for Q2

SpiceJet posts net loss of Rs198 crore for Q2
PTI
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First Published: Sat, Nov 01 2008. 01 02 AM IST
Updated: Sat, Nov 01 2008. 01 02 AM IST
New Delhi: Low cost carrier SpiceJet on Friday reported a net loss of Rs198 crore for the second quarter ended 30 September.
The airline had posted a net loss of Rs37.7 crore in the corresponding quarter of the previous financial year.
Total income of the carrier stood at Rs363.3 crore in the second quarter, up from Rs271.3 crore in the same quarter of the previous fiscal, the airline said in a statement.
SpiceJet witnessed a 53% growth in operating revenue because of a 3% increase in number of flights in comparison to same quarter last year. The company reported a 43% growth in revenue per flight on account of increased passenger yield.
On the revenue generated during the quarter, SpiceJet CEO Sanjay Aggarwal said: “We have been able to achieve a 43% growth in revenue per flight driven by a 77% enhancement in average fare realisation this quarter when compared to last year”.
There has been a correction in ticket pricing in the first two quarter of the current fiscal.
The revised prices are holding in the market place and that it will be the case moving ahead at least till the end of this fiscal year, he added.
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First Published: Sat, Nov 01 2008. 01 02 AM IST