SpiceJet flies out of the red, net at Rs 26 crore | india | Hindustan Times
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SpiceJet flies out of the red, net at Rs 26 crore

No frills airline SpiceJet has reported net profit of Rs 26.3 crore during the April- June quarter against net loss of Rs 129.2 crore in the same period last year.

india Updated: Jul 28, 2009 21:39 IST

No frills airline SpiceJet has reported net profit of Rs 26.3 crore during the April- June quarter against net loss of Rs 129.2 crore in the same period last year.

Last week, JetLite reported a net profit of Rs 2 crore. Going by this, it is evident that no frill airlines are comparatively less affected than full service carriers during the downturn.

During the quarter, SpiceJet reported 15 per cent increase in revenue from operations and 24 per cent reduction in cost per available seat kilometre. The seat load factor increased from 70 to 76 per cent and it saw 21 per cent growth in the number of passengers.

“We had a great quarter given the challenges the industry continues to face. We saw an increased acceptance of our service by the consumers. This helped in absorbing the additional 10 per cent capacity that we deployed over last year,” said Sanjay Aggarwal, chief executive officer, SpiceJet.

The quarter remained weak for the domestic aviation sector with passenger numbers showing a decline of 5 per cent as compared to the same period last year.