X
X
Top
ADVERTISEMENT

SpiceJet posts Rs 262 crores net in Q1

SpiceJet posts Rs 262 crores net in Q1
x
Highlights

Turning profitable, SpiceJet on Friday reported its highest-ever quarterly profit of Rs 261.7 crore in the three months ended June, even as grounding of Boeing 737 MAX planes impacted the no-frills airline.

New Delhi: Turning profitable, SpiceJet on Friday reported its highest-ever quarterly profit of Rs 261.7 crore in the three months ended June, even as grounding of Boeing 737 MAX planes impacted the no-frills airline.

Amid uncertainty over exact time when operations of B737 MAX planes would start, the airline plans to induct 5-10 Boeing 737 NG aircraft and 3 Q400 aircraft during October 2019.

The carrier had a net loss of Rs 38.1 crore in the 2018 June quarter. In the latest June quarter, the airline posted a total income of Rs 3,145.3 crore compared to Rs 2,253.3 crore in the corresponding period a year ago, according to a release.

About the latest results, the airline's Chief Financial Officer Kiran Koteshwar said it was the "highest ever profit in SpiceJet history" and that a key factor was the spectacular way in which 30 Boeing aircraft were inducted.

Operations "remained stressed" for a large portion of the June quarter due to continued grounding of B737 MAX planes.

This limited the airline's "ability to take its yields up owing to passenger disruptions and re-accommodation; while simultaneously increasing its fixed costs on this category of aircraft", the release said.

Show Full Article
Print Article
Download The Hans India Android App or iOS App for the Latest update on your phone.
Subscribed Failed...
Subscribed Successfully...
Next Story
More Stories