Spicejet posts 57% growth in revenues
Spicejet Ltd has recorded another robust quarter, with revenues increasing by 57% to Rs12.07bn in the quarter ended September, 30, 2012 as compared to Rs7.66bn same period last year.
The average realization per passenger in the quarter under review increased 37% as compared to the corresponding quarter a year ago. Load factors that are traditionally low during the July – Sept quarter dropped slightly at 66.3% as compared to 67.2% achieved last year.
High fuel prices along with a volatile Indian rupee continue to impact the Indian civil aviation sector as a whole. The international crude prices which saw some reduction during the previous quarter firmed up and threatened to get closer to the previously recorded highs, although we are now starting to see some signs of stability at lower levels. Fuel as a proportion of revenues was at 53% as against a comparable ratio of 62% last year; the sharp improvement in efficiency was due to better pricing discipline adopted by SpiceJet and redeployment of aircraft on to more profitable routes. During the quarter, SpiceJet opened up several new stations namely Chandigarh, Amritsar, Hubli, Dehradun, Jabalpur within the country and Kabul internationally. These sectors look very promising and we believe that with regular addition of under-served locations, SpiceJet is well poised to becoming the best network in India.
The Indian Rupee despite several expert opinions to the contrary continuous to be weak.
Despite the strident rise in yields, SpiceJet posted a Net Loss of Rs. 163.52 crore for the quarter ended September 30, 2012 as against a loss of Rs.240.07 crore for the comparable period last fiscal year.
Qatar Airways takes delivery of first 787 Dreamliner
Qatar Airways has taken delivery of its first Boeing 787 Dreamliner at a special ceremony held at the US aircraft manufacturer’s Seattle headquarters.
A Boeing hangar was the fitting venue for the official handing over of the aircraft to Qatar Airways, a ceremony watched by scores of airline management, Boeing executives and both local and international media. Guest of honour was Qatar’s Ambassador to the United States, His Excellency Mohamed Bin Abdulla Al-Rumaihi.
The event also witnessed a celebratory dinner where employees from both Boeing and Qatar Airways were honoured for their dedication and commitment, working together on the 787 project. The airline’s first Dreamliner took off from Seattle for Doha yesterday, arriving into Qatar today.(Wednesday 14 November). Read more…
In Focus Stories
KFA seeks more time from DGCA to submit revival plan: reports
Kingfisher Airlines has sought more time to submit a comprehensive revival plan to the aviation regulator DGCA, according to reports.
Reports stated that the airline has written a letter to Civil Aviation Secretary K N Shrivastava seeking more time to submit its plan to get the suspension of its flying permit revoked.
This move came after its employees threatened to chalk out an action plan next week if they did not receive their May salaries by November 17.