SpiceJet hopes for an early breakeven

Bangalore: Almost two years after it began operation (May 2005) as a low-cost airline, SpiceJet Ltd is expecting to achieve operational breakeven in the current quarter (April-June).
“We are expecting to breakeven operationally in this quarter and should be able be able to report a small profit. This would be after deducting earnings from sales and leaseback of Rs 8.2 crore ($2 million),” SpiceJet Ltd CEO and managing director Siddhanta Sharma told DNA Money.
Except for full-service carrier Jet Airways, all Indian carriers have been reporting operating losses and none of the new carriers have broken even till now.
Sharma said the airline’s profit would be achieved on the back of lower cost per unit and an exceptionally good season.
22/05/07 Praveena Sharma/Daily News & Analysis

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Categories: SpiceJet May 2007