SpiceJet not worried about competition from new players: Group CFO

Says promoters will infuse more funds when required

Kalanithi Maran owned SpiceJet today said it is not worried about the new players coming into the Indian skies. Instead, it said that competition will bring out the best in the company.

In response to shareholders question on what kind of impact will the airline have due to Tata's tie up with AirAsia and Singapore Airlines, S L Narayanan, Group CFO, Sun Group said, "We emerged strong in the recent years and the competition will bring out the best in the company. We are prepared and we will give strong fight".

He said that the airline will focus on products, markets, customers and profitability.

Asked whether the promoters will infuse further funds into the airline, he said that they have infused funds on three occasions in the last two years and will continue to do so as and when needed. At present the promoters hold 48.59% stake in the airline.

The airline said that to address increasing fuel costs, it has lined up different strategies including flying to certain states where taxes are low, flying to more and more international destinations where ATF prices are competitive and running engines efficiently.

"A full fledged team tracks fuel burning on the aircrafts," he said.