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Gurgaon, August 10, 2017: SpiceJet reported a profit of INR 175 crore
for the three months ended June 30th, 2017 as against 149 crore in the same quarter
last year, making it the 10th successive profitable quarter for the airline. The
profits grew by 18% during this period.
Operating revenues were INR 1869 crore for the said quarter as against INR 1521 crore
for the same quarter last year. On an EBITDA basis, SpiceJet reported a profit of INR
248 crore as against INR 215 crore in the same quarter last year.
In terms of operational parameters, SpiceJet had the best passenger load factor amongst
all airlines in the country during the quarter. The company witnessed a 9% increase in
its passenger yields while its average load factor was 94.07%. SpiceJet has recorded
more than 90% load factor for 27 successive months, a feat unparalleled globally.
SpiceJet, which placed its biggest order yet for up to 205 Boeing airplanes valued at up
to USD 22 billion earlier this year, also placed an additional order for 20 737 MAX 10
planes worth USD 4.7 billion and 20 conversions from the previous order at the Paris
Air Show in June 2017. The airline has also placed an order to buy up to 50 Q400
turboprop planes with Bombardier to consolidate its footprint in the regional markets.
SpiceJet’s massive aircraft order with Boeing came in for special mention by US
President Donald Trump during a joint press conference alongside Prime Minister
Narendra Modi at the White House for creating thousands of jobs in the US. President
Trump’s comments were reiterated by US Vice President Mike Pence while addressing the
42nd annual gathering of the US-India Business Council (USIBC).
“From being on the brink of a near shutdown to being lauded for creating thousands of
jobs in the world’s largest economy within a span of mere ten quarters, exemplifies
SpiceJet’s amazing turnaround. We had an eventful quarter as we took off under the UDAN
scheme and launched operations on two routes,” said Mr. Ajay Singh – CMD,
SpiceJet.
``Ten successive profitable quarters, a record aircraft order and exploring new growth
avenues through the UDAN program - SpiceJet remains firmly on track for its long term
growth strategy,” he added.
SpiceJet has launched its flights on the UDAN routes of Mumbai-Porbandar-Mumbai and
Mumbai-Kandla-Mumbai, while flights on the Hyderabad-Pondicherry-Hyderabad route are
scheduled to take-off from August 16, 2017. This quarter, the airline increased its
regional capacity by 20% by adding three Q400 to its fleet.
The last quarter also saw the airline launch its new retail venture, ‘SpiceStyle’
offering more than 12 fashion and lifestyle brands under its portfolio. This will
provide a fresh impetus to its ancillary revenues which has grown to 17% from 6% in the
last two years.
SpiceJet plans to add around six Boeing 737 Next Generation aircraft during Q3 and Q4
and expand its Bombardier fleet by adding two more Q400s. SpiceJet has been awarded six
proposals and 11 routes under the first phase of the UDAN Regional Connectivity Scheme.
During the current quarter, SpiceJet will start operations in the remaining sectors
under the UDAN scheme, namely Kanpur, Adampur and Jaisalmer, making flying possible for
more passengers.
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