SpiceJet hopes to break even by FY08

SpiceJet has announced its third quarter results. The company’s third quarter operating revenues stood at Rs 246 crore versus Rs 132 crore on YoY basis. Its net loss stood at Rs 21 crore as compared with profit of Rs 4.3 crore, YoY
MD and CEO of SpiceJet, Siddhanta Sharma states that they will strive for break even in FY08. Spice Jet hopes to bring non fuel costs down by 7-8% and bring fleet from 11 to 19 aircrafts by March '08. He adds that the load factor stands at 77% and is line with last year.
According to him, every 1% increase in fuel cost hits bottomline by 4%. He informs that they have decided to stick to the surchage of Rs 750 and have not rolled back any congestion fee.
02/04/07 Moneycontrol.com

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Categories: SpiceJet Apr 2007