New Delhi: SpiceJet has reported a net loss of Rs 1,003 crore for fiscal 2014 compared to a net loss of Rs 191 crore previously.
In a statement, the airline attributed the loss to "the sharp depreciation of the rupee during the quarter ended September 30, 2013''.
The statement adds that, “Given the fact that over 75 per cent of any Indian airline’s cost is influenced by the dollar, the effects of the exchange rates on a broad spectrum of cost heads were crippling.”
On a year-on-year basis, the airline saw a 6 per cent increase in the number of passengers flown, while there was a 12 per cent increase in its revenues. In addition, the passenger yield also increased to Rs 4,253 from Rs 4,052.
17/05/14 Ashwini Phadnis/Business Line
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In a statement, the airline attributed the loss to "the sharp depreciation of the rupee during the quarter ended September 30, 2013''.
The statement adds that, “Given the fact that over 75 per cent of any Indian airline’s cost is influenced by the dollar, the effects of the exchange rates on a broad spectrum of cost heads were crippling.”
On a year-on-year basis, the airline saw a 6 per cent increase in the number of passengers flown, while there was a 12 per cent increase in its revenues. In addition, the passenger yield also increased to Rs 4,253 from Rs 4,052.
17/05/14 Ashwini Phadnis/Business Line
