SpiceJet Jan-March net loss widens 4-fold

New Delhi: Indian low-cost carrier SpiceJet said on Wednesday net loss for January-March quarter widened more than four-fold to Rs249 crore ($44.61 million), as fuel and airport charges swelled in the country’s fiercely competitive market.

The No. 3 Indian carrier by market share had incurred losses of Rs586 million in the year-ago period.

Spicejet said there was some easing in costs in recent months, and sees lower fuel costs once the company starts importing jet fuel directly.