SpiceJet reports net loss at Rs 101 crore

Low-cost carrier SpiceJet today reported a 49 per cent year-on-year drop in net loss at Rs 101 crore for the quarter ended September 2009. The airline incurred losses of Rs 198 crore during the same period last year. The Delhi-registered carrier’s revenue from operation has increase by 31 per cent from the corresponding quarter last year. The airline sees sign of revival of traffic in India and feels the good run will continue in the coming quarter. Though low yields despite high passenger load factor created problems for the airline in the second quarter, it sees a good future with yields firming up.

 

“The yield has started firming up during the third fiscal quarter and demand remains robust. We expect this trend to continue through the next quarter,” said a release from the airline quoting SpiceJet Chief Executive Officer Sanjay Agarwal.