Top

SpiceJet posts record quarterly loss of $90 million

SpiceJet posts record quarterly loss of $90 million
Highlights

SpiceJet posts record quarterly loss of $90 million, SpiceJet Ltd, India's fourth-biggest airline by domestic market share, reported a record...

SpiceJet Ltd, India's fourth-biggest airline by domestic market share, reported a record quarterly net loss, hit by high fuel prices and a weaker local currency.

SpiceJet, controlled by billionaire Kalanithi Maran's Sun Group, said net loss was 5.59 billion rupees for its fiscal second quarter to September 30, compared with a net loss of 1.64 billion rupees a year earlier.
ArcelorMittal core profit better than expected at USD 1.71 billion
The quarterly loss was higher than its previous worst quarterly loss of 3.27 billion rupees reported for the September quarter of 2008, according to Thomson Reuters data.
SpiceJet and rivals such as Jet Airways operate in a country where provincial taxes make jet fuel among the world's most expensive. They also have to contend with a rupee trading near a record low, raising costs which are mostly denominated in dollars.
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