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SpiceJet losses in line with Jet Airways

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SpiceJet losses in line with Jet Airways
Spicejet: Quotes, News
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SpiceJet, India's leading airline company also posted losses in its second quarter results due to high fuel expenditure. The airline posted a loss of Rs 240 crore for the second quarter ended September 30 against the profit of Rs 10 crore recorded during the previous year same quarter.

It's losses were in line with Jet Airways which posted a loss of Rs 713 crore during the September quarter against a profit of Rs 12.40 crore a year ago.

 

SpiceJet's total revenues rose to Rs 766.5 crore from Rs 629 crore corresponding quarter previous year.

The airline's expenditure on fuel rose by 83% from Rs 260.8 crore a year ago to Rs 478 crore during the quarter.

It's staff cost increased 62.24% to Rs 86.38 crore and its lease rentals went up by 31% to Rs 137.5 crore against 260.8 crore reported previous year.

The rising crude prices have impacted the profitability of most of the airline companies, resulted into sharp losses.

Story first published: Saturday, November 12, 2011, 14:20 [IST]
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