Low-cost carrier SpiceJet plunged into a loss for the first quarter ended June 30, 2011, as high fuel prices crimped margins and affected profitability. It posted a loss of . 71.9 crore. The Kalanithi Maranowned airline had posted a profit of . 55 crore in the yearago period. Revenue rose 32% to . 945.6 crore. The airline carried 25% more passengers in this quarter but the fuel bill, as a percentage of expenses rose to 53% this year versus 36% last year.
Experts feel that the company has fared better than expected. “SpiceJet has shown a healthy growth in volumes and have kept losses below . 100 crore, which shows that the airline has done better than expected. The next quarter — when airtraffic dips by a substantial number — may see recovery per passenger fall,” said global consultancy firm KPMG Director (Aerospace and Defence) Amber Dubey.
Meanwhile, the company has opened bookings for seven destinations as part of its regional operations.
Experts feel that the company has fared better than expected. “SpiceJet has shown a healthy growth in volumes and have kept losses below . 100 crore, which shows that the airline has done better than expected. The next quarter — when airtraffic dips by a substantial number — may see recovery per passenger fall,” said global consultancy firm KPMG Director (Aerospace and Defence) Amber Dubey.
Meanwhile, the company has opened bookings for seven destinations as part of its regional operations.
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