Low cost airline SpiceJet has reported net loss of Rs.163.52 crore for the second quarter ended September 30, 2012, as compared to a net loss of Rs. 240.07 crore in the corresponding period last year. However, the airline’s revenue went up by 57 per cent to Rs. 1,207 crore as compared to Rs. 766 crore in the second quarter last year.
During the quarter the airline witnessed 37 per cent increase in passenger yields from Rs. 2,920 to Rs. 4,001. Its passenger number grew by 16 per cent while the number of departures saw an increase of 48 per cent as compared to the same quarter last year. This is primarily on account of short haul services in regional routes through the newly acquired Bombardier Q400 aircraft.
“Improved yields coupled with effective cost controls helped the company perform better in what is always a weak quarter for the airline business. Increase in international operations and an improved fleet management helped us deliver better numbers for this quarter. Fuel costs and weakened Indian rupee continue to be a cause of worry for the aviation sector,” said Neil Mills, Chief Executive Officer, SpiceJet.
“But we are extremely encouraged by the fact that the central government is proactively addressing the several pain points that torment the struggling civil aviation industry. We hope to see better days in the near future,” he added.