SPICEJET POSTS PROFIT

admin
By admin November 3, 2010 14:32

SPICEJET POSTS PROFIT

Indian low cost, SpiceJet Ltd, announced on Tuesday that it had made a profit of Rs.10 crore in the three months to September against a loss of Rs.101.29 crore for the same period last year as passenger traffic continued to grow. The figures were helped along by Rs.25.17 crore from the sale and lease-back of aircraft. SpiceJet’s total revenue rose from Rs.450.39 crore to Rs.628.17 as it commanded higher ticket prices. It fetched Rs.3,477 on average for each ticket compared with Rs.2,883 last year.

SpiceJet, which started international operations this year after the mandatory five years of existence, has ordered up to 30 Q400s. for its regional expansion that will focus on tier-II and tier-III cities.

The airline has a 13% share of the Indian domestic market and is set to launch services to the Maldives and Dhaka. SpiceJet now has cash reserves of Rs. 600 crore. SpiceJet shares rose 6% to Rs.88.15 on the Bombay Stock Exchange on the news.

admin
By admin November 3, 2010 14:32
Write a comment

No Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Only <a href="http://www.aviationnews-online.com/wp-login.php?redirect_to=http%3A%2F%2Fwww.aviationnews-online.com%2Fairline%2Fspicejet-posts-profit%2F"> registered </a> users can comment.