New Delhi: SpiceJet has reported a net loss of Rs275 crore for October-December 2014, higher than the Rs172-crore loss it posted a year ago.
In a statement, the airline said excluding one-off and exceptional items that include maintenance reserves write-offs, unproductive lease rentals and provision for impact of fleet reductions, and early contract termination, the company would have achieved a net profit of Rs20 crore.
The unaudited financial results were reviewed by the audit committee and approved by the Board at a meeting held on Thursday and have been subjected to limited review by the company auditors, the statement added. During the December quarter, the airline spent Rs172.52 crore as redelivery cost, including Rs101.65 crore relating to redelivery to the lessors of 14 Boeing aircraft that have been retired from commercial use.
In addition, the carrier also paid Rs70.87 crore for three aircraft that were retired ahead of schedule.
12/02/15 The Hindu
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In a statement, the airline said excluding one-off and exceptional items that include maintenance reserves write-offs, unproductive lease rentals and provision for impact of fleet reductions, and early contract termination, the company would have achieved a net profit of Rs20 crore.
The unaudited financial results were reviewed by the audit committee and approved by the Board at a meeting held on Thursday and have been subjected to limited review by the company auditors, the statement added. During the December quarter, the airline spent Rs172.52 crore as redelivery cost, including Rs101.65 crore relating to redelivery to the lessors of 14 Boeing aircraft that have been retired from commercial use.
In addition, the carrier also paid Rs70.87 crore for three aircraft that were retired ahead of schedule.
12/02/15 The Hindu
