New Delhi: Budget carrier SpiceJetBSE 0.63 % needs to change its commercial strategy if it wants to resolve its financial and operational troubles, its new chief commercial officer Kaneswaran Avili told ET in an interview hours after he was appointed.
"The airline also needs a new revenue management system," said Avili, who will join the troubled carrier on April 1. Avili, who is currently with budget carrier Tiger Airways, is set to join SpiceJet at a time when it is facing serious turbulence.
The carrier reported its worst quarterly loss of Rs559 crore for July-September 2013, when it was hit hard by increased competition and high input costs. Over the past one year, its share price has fallen 63%. They closed at Rs16.05 on Friday, less than a 1% up, on the Bombay Stock Exchange The airline has been resorting to massive discounts on airfares, a strategy that experts say is among the few ways available to maintain cash flow for its operations and plane delivery payments.
08/02/14 Economic Times
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"The airline also needs a new revenue management system," said Avili, who will join the troubled carrier on April 1. Avili, who is currently with budget carrier Tiger Airways, is set to join SpiceJet at a time when it is facing serious turbulence.
The carrier reported its worst quarterly loss of Rs559 crore for July-September 2013, when it was hit hard by increased competition and high input costs. Over the past one year, its share price has fallen 63%. They closed at Rs16.05 on Friday, less than a 1% up, on the Bombay Stock Exchange The airline has been resorting to massive discounts on airfares, a strategy that experts say is among the few ways available to maintain cash flow for its operations and plane delivery payments.
08/02/14 Economic Times
