In an interview to ET NOW, Ajay Singh,CMD, SpiceJet, explains how regional connectivity scheme gave SpiceJet an opportunity to bid for routes which are not connected by flights.
Edited Excerpts:
I want to understand your top line growth in FY17. It was a robust 22%, thanks to solid passenger growth. Can we expect similar momentum in FY18 with load factors of more than 90%?
We see absolutely no reason why the momentum should not continue. As you know that for the last 24 months SpiceJet has clocked more than 93% load factor and this is something of global record. But underlying growth is so strong that we feel that this momentum is certainly going to continue in FY18.
The EBITDA growth has trailed due to higher fuel costs. There has been pressure on yields as well. How are you looking at things at the current juncture?
The last two quarters there was the effect of demonetisation and significant increase in the cost of ATF. So we see that that those elements ATF is moderating. Oil prices are coming down. Demonetisation the impact of that seems to have withered away. So we are pretty confident that things are looking much better now than they were in the last two quarters.
16/06/17 ET Now/Economic Times
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Edited Excerpts:
I want to understand your top line growth in FY17. It was a robust 22%, thanks to solid passenger growth. Can we expect similar momentum in FY18 with load factors of more than 90%?
We see absolutely no reason why the momentum should not continue. As you know that for the last 24 months SpiceJet has clocked more than 93% load factor and this is something of global record. But underlying growth is so strong that we feel that this momentum is certainly going to continue in FY18.
The EBITDA growth has trailed due to higher fuel costs. There has been pressure on yields as well. How are you looking at things at the current juncture?
The last two quarters there was the effect of demonetisation and significant increase in the cost of ATF. So we see that that those elements ATF is moderating. Oil prices are coming down. Demonetisation the impact of that seems to have withered away. So we are pretty confident that things are looking much better now than they were in the last two quarters.
16/06/17 ET Now/Economic Times
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