A net loss of Rs 310 crore in the latest quarter, 40 pilots quitting and lessors taking back 10 aircraft in the last six months and airline auditors casting doubts over its ability to sustain have all resulted in a cloud of uncertainty surrounding Spicejet.
So much so, Sunday saw the rare sight of CEO Sanjiv Kapoor and senior company executives coming out on social media and battling analysts and even his own employees who were sounding the death knell for the airline, which is owned by media baron Kalanidhi Maran.
Besides Kapoor, Chief Commercial Officer Kaneswaran Avili was also debating with analysts and highlighting the company's efforts to bring the airline back on track. Spicejet on Friday reported net losses of Rs 310 crore for the July-September period amid reports that some 40-odd pilots, including commanders have quit the airline.
While a SpiceJet spokesperson said its market stimulation has worked as its top line grew 15 per cent year-over-year in the second quarter, ahead of a capacity increase of 7 per cent, the airline's auditors are not convinced.
17/11/14 Aditya Anand/Mumbai Mirror
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So much so, Sunday saw the rare sight of CEO Sanjiv Kapoor and senior company executives coming out on social media and battling analysts and even his own employees who were sounding the death knell for the airline, which is owned by media baron Kalanidhi Maran.
Besides Kapoor, Chief Commercial Officer Kaneswaran Avili was also debating with analysts and highlighting the company's efforts to bring the airline back on track. Spicejet on Friday reported net losses of Rs 310 crore for the July-September period amid reports that some 40-odd pilots, including commanders have quit the airline.
While a SpiceJet spokesperson said its market stimulation has worked as its top line grew 15 per cent year-over-year in the second quarter, ahead of a capacity increase of 7 per cent, the airline's auditors are not convinced.
17/11/14 Aditya Anand/Mumbai Mirror
