Spicejet posts net loss of Rs 198 crore for Q2

Press Trust of India reports, low cost carrier SpiceJet today reported a net loss of Rs 198 crore (INR 1.98 billion) for the second quarter ended September 30. The airline had posted a net loss of Rs 37.7 crore in the corresponding quarter of the previous financial year.

Total income of the carrier stood at Rs 363.3 crore in the second quarter, up from Rs 271.3 crore in the same quarter of the previous fiscal, the airline said in a statement.

SpiceJet witnessed a 53 per cent growth in operating revenue because of a three per cent increase in number of flights in comparison to same quarter last year. The company reported a 43 per cent growth in revenue per flight on account of increased passenger yield.

On the revenue generated during the quarter, SpiceJet CEO Sanjay Aggarwal said: "We have been able to achieve a 43 per cent growth in revenue per flight driven by a 77 per cent enhancement in average fare realisation this quarter when compared to last year".

There has been a correction in ticket pricing in the first two quarter of the current fiscal. The revised prices are holding in the market place and that it will be the case moving ahead at least till the end of this fiscal year, he added.