Thursday , March 4 2021

SpiceJet Q2 results: SpiceJet Q2 losses widen to 389.4 crore per RPM to ATF price rises, weak rupees

NEW DELHI: Low SpiceJet reported a loss of R 389.4 crore between July and September, 2018, compared with a profit of R 105.3 in the same quarter last fiscal year. This is the second straight quarter of the airline's loss after the 13 profitable quarters in a row.

"Expenditures … increased by 25% due to a 48% increase in ATF (aviation turbine fuel) and a 10% exchange rate increase … net loss R 389.4 crore during the July-September 2018 period, due to rising fuel costs and the rupee depreciation, "the airline said, adding:" As the impact of the strong cost pressures facing this quarter, the company paid Rs 272 crore for an account of ATF cost increases, Rs 78 crimes due to gross depreciation and Rs 46 crore, taking into account exchange rate fluctuations, compared to the second quarter of 2017. Despite strong competition, earnings ratios remained disciplined and declined by only 1%. "

For the same reasons, the other two listed airlines, IndiGo and Jet Airways, had previously reported a 2nd quarter loss of Rs 652 crore and R9712.7 crore, respectively.

The airline Q2 fuel bill increased by 36%, reaching 845.1 kronor from Rs 542.3 kroner in the same period last year. Total income increased by 3.8% from 1,842 million rubles in the last quarter to 1,910.3 kroons during this period.

SpiceJet chairman Ajay Singh said: "Although this has been a difficult quarter for the entire industry, SpiceJet has managed to manage the sector's head wave also thanks to our aggressive network expansion, with emphasis on cost reduction, fuel efficiency induction aircraft, and the uncontrollable spirits of our employees SpiceJet has been an impressive growth boost, and this quarter is very special for us. Starting our new 737 MAX and Q400 aircraft, launching special air freight services is the basis for our aggressive expansion, while maintaining the verified cost. At the highest prices, the world's oil price decline and exchange rate appreciation, we expect the operating environment to improve significantly. "

The airline said in a statement that new aircraft were designed to reduce fuel and engineering costs, while reducing noise pollution and greenhouse gas emissions. "SpiceJet has announced 10 new UDAN flights and started operations in the Delhi-Kanpur industry during the UDAN (ude desh aam nagrik) rally on the country's national agenda. SpiceJet now operates 25 UDAN flights to Mumbai-Porbandar, Mumbai-Kandla-Mumbai, Hyderabad-Puducherry – Hyderabad, Jaipur-Jaisalmer-Jaipur, Chennai-Hubli-Chennai, Hyderabad-Hubli-Hyderabad, Delhi-Adampur-Delhi, and Deli – Kanpur – Delhi, Kolkata – Pakyong – Kolkata, Deli – Kishangarh – Delhi, Pakyong – Guwahati – Pakyong, Surat – Jaisalmer – Surat and Ahmedabad Jaisalmer Ahmedabad ".

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