Tuesday, January 09, 2007

Spicejet eyes breakeven in FY07

Hyderabad: Low cost carrier Spicejet hopes to achieve financial break-even this fiscal subject to costs remaining constant. The airline expects to post a turnover of Rs 1,100 crore in 2006-07 against Rs 481 crore last year, said Spicejet vice-president (sales & planning) Sanjay Kumar at a press conference here on Monday.
"We achieved operational breakeven last year. We hope to achieve financial breakeven this fiscal, provided variable costs like fuel prices remain constant till the conclusion of the fiscal," said Mr Kumar. Prices of aviation turbine fuel remained stable until December 2006, but witnessed a hike this month. If it continues at the present level, achieving breakeven should be possible, he added.
08/01/07 Economic Times