Saturday, September 30, 2006

SpiceJet posts Rs 18cr loss in Aug quarter

Mumbai: Delhi-based low-cost carrier SpiceJet has posted Rs 17.81 crore loss for the quarter ended August 31, 2006 as against Rs 10.81 crore for the corresponding period last year. Total income however, rose to Rs 180.33 crore during the reporting quarter when compared with against Rs 66.26 crore for the quarter ended August 31, 2005.
"High fuel prices coupled with weak demand have resulted in loss for August quarter. However, this is the lowest loss figure compared to other airlines," Ajay Singh, director of SpiceJet, said.
The expenditure for the airline rose to Rs 194.68 crore for the quarter ended August 31 against Rs 75.37 crore for the corresponding quarter of previous year. The operating loss of this no-frills airline was at Rs 14.35 during the reporting quarter against Rs 9.10 crore for quarter ended August 31, 2005.
29/09/06 Business Standard