SpiceJet’s Q2 was turbulent but outlook likely better1 min read . Updated: 16 Nov 2022, 12:51 PM IST
- The outlook offers some comfort as Q3 is a seasonally strong quarter. As analysts at ICICI Securities point out, the average number of daily fliers in November to-date stands at about 385,000 versus 368,000 for the month of October
The September quarter results of budget airline SpiceJet Ltd. did not move the needle on the stock, given the weak performance. So far in calendar year 2022, shares of the airline have declined 43%. Q2 earnings took a hit primarily because of high aviation turbine fuel (ATF) prices and a weak rupee. In fact, average ATF prices were up by as much as 87% year-on-year (y-o-y) in the last quarter.
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