SpiceJet foresees tough times

New Delhi: Budget carrier SpiceJet's chief executive Neil Mills feels the aviation sector, marred by high fuel and interest cost in the coming fiscal, will continue to face "tough operating conditions".
"I think the tough conditions will continue for a while in the coming fiscal. Our futures are pegged with oil prices and they are very high right now," Mills said in an interview.
"There are some decisions on new policy like direct import of fuel and foreign direct investment. We are evaluating them and will do what is best for us."
According to Mills, the low cost carrier (LCC) was in touch with fuel suppliers for logistical support to allow airlines to directly import jet fuel.
"We are evaluating the impact of the decision whenever it comes. We are in touch with them (fuel suppliers), but I cannot comment on how much savings would emerge out of this. But it will be substantial."
Mills' views come as the government had on Feb 22 notified direct import of jet fuel and called upon interested carriers to apply for licences.
This came after the Feb 7 decision by a group of ministers (GoM) headed by Finance Minister Pranab Mukherjee to roll out a plan to help domestic carriers, allowing them to directly import aviation fuel.
05/03/12 IANS/ZeeNews

To Read the News in full at Source, Click the Headline

Categories: spicejet Mar 2012