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SpiceJet reports its highest-ever quarterly profit of INR 261.7 crore
Q1 net profit up 788% as against the same quarter last year
Reports 35% growth in operational income

For the Quarter ending June 2019

  • Capacity (in terms of Seat Kilometers) up by 31%
  • Profits grow by 788%, Revenue from operations by 35%
  • Passenger fares up by 11%
  • Registers industry’s highest domestic load factor of 93.8%
  • Stages a spectacular recovery after the grounding of its 13 Boeing 737 MAX aircraft by inducting 32 aircraft during the quarter, that includes 27 Boeing 737 NG aircraft.

Key Highlights

  • Added 32 aircraft; aircraft fleet stands at 107 as on June 30, 2019
  • Secured premium slots at key metros and international flying rights
  • For 50 months in a row SpiceJet has flown with the highest loads in India
  • Biggest regional player in the country with 51 daily UDAN flights; launched 18 UDAN flights during the quarter
  • Adopts new accounting standard IND AS 116 which effectively capitalises its aircraft leases

GURUGRAM, August 09, 2019:SpiceJet is off to a great start for the Financial Year 2020 as the airline reported a net profit of INR 261.7 crore and total income of INR 3,145.3 crore for the quarter ending June 2019 as against a loss of INR 38.1 crore and INR 2,253.3 crore for the corresponding quarter last year.

Operating revenues were at INR 3,002.1 crore against INR. 2,220.4 crore for the corresponding quarter last year. On an EBITDA basis, profit is INR 747.5 crore as against INR 100.5 crore for the corresponding quarter last year. Operating expenses were at INR 2,883.6 crore as against INR 2,227.9 crore for the corresponding period last year. Effective April 1, 2019, the airline adopted the new accounting standard IND AS 116 which effectively capitalises operating leases, and as result of this the lease rentals are now reflected as interest and depreciation for the quarter ending June 2019. Additionally, owing to the retrospective treatment of this standard there is a reduction of INR 302.2 crore from retained earnings status as at April 1, 2019.

The airline operations remained stressed for a large portion of this quarter due to the continued grounding of its superior B737 MAX aircraft, which limited its ability to take its yields up owing to passenger disruptions and re-accommodation; while simultaneously increasing its fixed costs on this category of aircraft. The airline, however, spectacularly moved in to salvage this unprecedented situation with additional flights on its existing B737 NG & Q400 fleet by increasing their daily utilisation to 15-16 hours per day and 13-14 hours per day respectively, and then inducting 27 Boeing 737 NGs, at a phenomenal pace between April 01, 2019 and June 15, 2019.

On the grounded Boeing 737 MAX aircraft, the Company continues to incur various costs with respect to these aircraft and during this quarter ended June 30, 2019 on account of its inability to undertake revenue operations, the Company has recognized INR 114.1 crore towards aircraft and supplemental lease rentals as other income. This is a part recognition of the total reimbursements, on which the Company is working with the aircraft manufacturer, towards various ascertained costs and losses incurred by the Company on this aircraft.

Ajay Singh, Chairman and Managing Director, SpiceJet said, “SpiceJet has been on a spectacular growth journey and this quarter, in particular, has been very special for us. We added 32 aircraft to our fleet expanding at a pace unprecedented for a sector plagued by crisis showcasing our robust business model and proven operational capabilities.”

“We are happy that we were able to minimise passenger inconvenience by quickly filling the capacity gap created in India’s aviation sector. The results would have been vastly better but for the painful grounding of the MAX aircraft. We look forward to their swift return to service in the near future that will help SpiceJet increase its margins and provide a superior level of service.”

Key business updates

Between April and June 2019, SpiceJet added 32 aircraft – 27 Boeing 737 NG aircraft, four Bombardier Q400s and one B737 freighter. At the end of the reported quarter, SpiceJet’s fleet size stood at 107 which included 73 Boeing 737 NG aircraft, 31 Q400s and three B737 freighters.

The airline has been allotted an additional 48 domestic and international departure slots in Mumbai; and 15 domestic and international departure slots in Delhi. Starting April 1, 2019 the airline has announced 130 additional flights that includes 78 flights connecting Mumbai, 20 flights connecting Delhi and 12 flights connecting Mumbai and Delhi.

The airline during the quarter launched a number of new flights and enhanced frequencies on its international network from the key metros of Mumbai, Delhi and Hyderabad to global hotspots such as Jeddah, Bangkok, Colombo, Hong Kong, Dubai and Dhaka. Besides, SpiceJet also announced the launch of flight services from Mumbai to the Saudi capital city of Riyadh which earmarks the airline’s 10th international destination.

Currently, SpiceJet operates to 52 domestic and nine international destinations. It is the largest regional player in the country with 51 daily UDAN flights and operates to 12 destinations under the regional connectivity scheme providing air connectivity to the remotest corners of the country. Earmarking another important milestone, the airline, also launched its Guwahati-Dhaka flight under the International Air Connectivity Scheme (IACS) which makes it the country’s first IACS flight.

In terms of operational parameters, SpiceJet had the best passenger load factor amongst all airlines in the country during the quarter. The average domestic load factor for the quarter was 93.8%. For 50 months in a row, SpiceJet has flown the highest load factors in the Indian aviation market, a feat unparalleled globally.

SpiceXpress, the dedicated air cargo arm of SpiceJet, has been on a growth trajectory with one more freighter being added to its fleet in the quarter. SpiceXpress now has nine scheduled departures six days a week to Hong Kong from Delhi, Kolkata and Guwahati and one domestic rotation connecting Hyderabad, Delhi, Mumbai, Bengaluru and Chennai. SpiceXpress has also operated numerous charter services to international destinations such as Sharjah, Ras Al Khaimah, Teheran, Sulaimaniyah (Iraq), Bosaso (Somalia) & Hargeisa (Somali Land) besides helping transport relief material to Bhubaneshwar during Cyclone Fani. SpiceXpress will soon start operating scheduled services on the Delhi-Kabul-Delhi route from later this month. SpiceXpress will also be adding two more freighters this month and will adding services on the Mumbai-Sharjah-Mumbai, Delhi-Mumbai-Delhi and Bangalore-Singapore-Bangalore routes in the coming weeks.

Fleet expansion outlook

The company had estimated that the grounded Boeing 737 MAX aircraft to resume normal operations by July/August 2019 as per the understanding with the aircraft manufacturer. With the current developments and uncertainty around the exact month of resumption, the company plans to cater to the winter season by inducting 5-10 Boeing 737 NG aircraft and 3 Q400 aircraft during October 2019.

Disclaimer:

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in aviation sector including those factors which may affect our cost advantage, wage fluctuations, our ability to attract and retain highly skilled professionals, time and cost overruns on various parameters, our ability to manage international operations, reduced demand for air travel, liability for damages, withdrawal or expiration of governmental fiscal incentives, political instability, legal restrictions on raising capital or general economic conditions affecting our industry.

The words “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us, are intended to identify certain of such forward looking statements. The Company may, from time to time, make additional written and oral forward-looking statements, including statements contained in our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.


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SPECIAL ASSISTANCE

  • Introduction (Special Assistance):

    Our employees are trained to assist our differently-abled passengers and for any sorts of limitations, we offer a wide variety of special assistance.

    You can obtain information in advance regarding the assistance we offer, either through this website or by contacting our Reservations on +919871803333/ +919654003333.

    Please be aware that there might be unpredictable circumstances such as weather or mechanical problems that may call for a last minute unavoidable change, but we will do our best to accommodate your needs.

  • Onboard Facilities:

    Following assistance are available on-board SpiceJet’s aircraft:

    • Assistance in moving to and from seats/lavatory.
    • Help in preparation for eating.

    However, we express our inability to provide passengers with any assistance for personal care needs on-board, such as, eating/ drinking, administration of medication, elimination functions including assistance inside the lavatory, or other personal care needs. If you require assistance with any of these, we recommend that you travel with a personal care attendant.

  • Seating accommodation and aircraft accessibility for differently-abled passengers:

    We will do our best to allocate you a seat that is most suitable to your needs. However, in order to meet the safety requirements as prescribed by the DGCA, passengers with mobility limitations which make it unsafe to facilitate aircraft evacuations will not be given a seat in a location where they would obstruct emergency exits, impede the crew in their duties, obstruct access to emergency equipment or hinder aircraft evacuation.

  • Accessible Lavatories:

    A lavatory with a single panel door is available on all our aircraft. Our cabin crew can provide you with assistance moving to and from the lavatory door but will not be able to assist you inside the lavatory.

  • SpiceJet offers special services for the following:
    • Wheelchair users or passengers using wheelchairs (mobility assistance);
    • Passengers travelling with crutches/ braces/ other prosthetic devices;
    • Passengers with Visual Impairment;
    • Passengers Travelling with Certified Guide Dogs;
    • Passengers with Hearing Impairment;
    • Passenger travelling with spinal support;
    • Passenger travelling with an assistant for medical purposes;
    • Passengers; with intellectual/ developmental/ learning disabilities;
    • Passengers travelling with Internal Medical Devices;
    • Passengers who require a stretcher;
    • Passengers requiring oxygen aid;
  • Mobility Assistance:
    • SpiceJet would be more than happy to provide a wheelchair for you, should you require this service. In order to ensure the service meets your needs, our reservation team and/ or the staff may ask you some questions to determine the level of assistance you require. To allow us to provide the best possible assistance, please provide us with as much appropriate information as possible at the time of your booking and/ or at the time of check-in;
    • SpiceJet wheelchair service is provided, with an attendant, at no additional charge to you. The attendant will assist in transporting you within the airport area, to the boarding gate and/ or the aircraft door (depending upon the airport facilities). Our team is trained in transferring techniques, and can assist if you are unable to transfer by yourself from the wheelchair to/ from your seat. However, to have this facility extended to you an advance intimation to SpiceJet is required;
    • Please contact us at Reservations +919871803333/ +919654003333 should you have any questions about our wheelchair service;
    • If you are travelling in a group of 10 or more people and require wheelchairs, please contact our Reservations =+919871803333/ +919654003333 at least 48 hours before the scheduled departure;
    • Passengers travelling with their own wheelchair differently-abled passengers may use their own manual or battery-powered wheelchair up to the boarding gate and/ or the aircraft door (subject to permission granted by the respective airport authority). SpiceJet allows only manual/ collapsible wheelchairs on all its flights. Unfortunately, battery-powered wheelchair(s) with a wet cell battery shall not be accepted since it’s corrosive in nature and is considered to be a Dangerous Good;
  • Passengers travelling with Crutches / Braces / other Prosthetic Devices:

    Passengers are allowed to use their own crutches, braces and/ or other prosthetic devices up to the aircraft, and may board such items as cabin baggage, provided the passengers are dependent on them.

  • Passengers with Visual Impairment:
    • SpiceJet would request passengers with Visual Impairment to check-in early for their flight (approximately 2-3 hours before the flight departure) for a hassle free experience;
    • If assistance is required within the airport, please make your needs identified at the check-in and/ or at the time of booking;
    • SpiceJet will be able to extend a meet and assist service, individual safety briefings, priority boarding, assistance on-board in moving to and from the seat, reading the menu, helping in boarding and/ or de-boarding and also during flight connections;
    • If you use a cane and/ or other assisting device, it may be carried in the aircraft cabin with you, provided it can be stowed in the overhead compartment. The cane should not block any emergency exit or protrude into the aisle;
    • You may ask our cabin crew for assistance in stowing and retrieving your cane in case it is not collapsible or if it cannot be stowed under your seat.

    All such assisting devices will be carried free of charge. For convenience, you may request our Cabin Crew for the assistance required and we will do our best to assist the passengers in the best possible manner.

  • Passengers with Hearing Impairment

    If you require assistance during your flight with us, we encourage you to let us know how we may best assist you at the time of your booking or during check-in.

    We offer the following assistance:

    • Meet and assist service to escort you to and from the aircraft;
    • Priority boarding.

    We do not require advance notification if you wish to bring onboard hearing aid or assistive listening devices. These devices can be used during all phases of the flight.

    If you plan to bring a transmitting device on-board, please advise us at least 48 hours in advance so we can ensure that it is compliant with the safety requirements.

  • Passengers travelling with Spinal Support Equipment (SSE):

    Passengers must bring their own spinal support equipment and should be fully responsible for its installation, usage and removal. Passenger-supplied spinal support equipment will be carried free of charge. If you are planning to travel with Spinal Support Equipment (SSE), we recommend that you please contact us on +919871803333/ +919654003333, at least 7 (seven) working days prior to departure and inform us of your SSE specifications. Our staff will then check to ensure that whether your equipment can be accommodated safely in the aircraft.

  • Passenger travelling with an assistant for medical purposes:

    For safety reasons, SpiceJet may require some differently-abled passengers to travel with a Safety Assistant that can provide them with assistance in comprehending and responding appropriately to safety instructions from the cabin crew and/or assist them to evacuate the aircraft in the event of an emergency. A Safety Assistant is mandatory if the passenger:

    • Is travelling in a stretcher or incubator or requires medical attention during the flight. The Safety Assistant must be capable of attending to their medical needs;
    • Is unable to comprehend or respond properly to safety instructions due to a cognitive or developmental disability;
    • Has severe mobility impairment, due to which the passenger is unable to evacuate on his own in the event of an emergency;
    • Has severe hearing and vision impairment and cannot communicate with our cabin crew.
  • Passengers having Autism or Intellectual Disability:
    • Passengers with Intellectual disabilities or Down syndrome or Autism can book their flights by contacting SpiceJet’s Reservations at +919871803333/ +919654003333;
    • While making the reservation, please advise us about your specific requirements and the best way to approach and assist in travel;
    • Passengers with intellectual disabilities or Down syndrome or Autism may be required to travel with an Accompanying Passenger.
    • The trained attendant shall carry the treating physician’s certificate along with a prescription for a sedative medicine, which may be administered by the attendant, prior to commencement of travel or as may be required en-route.
    • Passengers with psychiatric and/ or emotional disorders shall always travel with a suitable personal care attendant.
  • Passengers travelling with Internal Medical Devices:

    If you are travelling with an internal medical device, such as a pacemaker or a defibrillator, kindly inform us while making the reservation and also at the airport, to the security personnel conducting your screening, before the process begins.

  • Passengers who require a stretcher:
    • To make a booking for a stretcher request, please inform us no later than 48 hours prior to the scheduled time of departure of the flight.
    • Passengers are required to take a print-out of the SpiceJet’s medical form (MEDIF) available on the website. The treating physician must fill the form prior to the booking and mail this to [email protected];
    • Based on an assessment by SpiceJet’s internal physician, the passenger will be communicated about the status for their request for stretcher within 24 hours of receiving the duly filled-in MEDIF via e-mail.
    • Please note that SpiceJet reserves the right to have a SpiceJet medical representative meet the passenger at the airport on the date of travel to determine the passenger’s then-current medical fitness to travel on that date.
    • The applicable charge for accommodating request for stretcher in the aircraft shall be the charge for 09 (nine) seats at the prevailing fare plus a Handling Fee for the stretcher is of INR 30,000 (inclusive of service tax and cess).
  • a)   Passenger who require Oxygen Onboard:
    • SpiceJet provides oxygen onboard without any charges and is subject to availability and needs prior approval.
    • Please complete a Medical Information Form to let us know of the flow rate you need, in litres per minute.
    • Passenger to write to [email protected] with an updated form filled by the patient’s treating doctor at least 48 hours before your flight departure.
    • Provision of Oxygen is subject to the approval of the submitted form by the SpiceJet Chief Medical Officer and operations team.
    • Passenger whose Oxygen request has been approved should report at least 3 hours prior to the departure of the flight.
    b)   Passenger carrying Portable Oxygen Concentrator (POC):
    • POC is allowed in domestic / international (Boeing and Q-400) direct/ via / connecting flights.
    • POC is allowed in hand baggage & check-in baggage both.
    • Request for carriage of Portable Oxygen Concentrator (POC) in flight should be sent to [email protected] at least 48 hours prior to flight departure.
    • For more details refer https://www.spicejet.com/SpecialAssistance.aspx .

Please find below the forms required for various medical conditions:

Type Of Form Medical Condition Download
Fitness Certificate
  • Persons suffering from any disease, which is believed to be actively contagious and communicable.
  • Persons whose medical condition may develop an adverse physical condition which could have an adverse effect during flight and on safety and emergency evacuation procedure
Medical Information Form (MEDIF)
  • Requirement of oxygen inflight
  • Recent major illness
  • Recent surgery or hospitalisation
  • Use of medical equipment inflight
  • Requirement of stretcher
  • Newborns under 7 days
INCAD Form
  • Reduced Mobility – wheel chair users (Old age/ Arthritis/ physical disability – loss of limbs, paralysis/ neuromuscular disorders – multiple sclerosis, muscular dystrophy)
  • Visually Impaired – vision loss to such extent where it requires additional support.
  • Hearing Disabled – partial or total inability to hear
  • Intellectual/ Learning Disabilities – IQ less than 70; due to mental/ physical impairments, for ex Down’s syndrome, cerebral palsy etc
  • Requirement of stretcher
  • Newborns under 7 days

For any assistance for booking and additional information please contact us at +919871803333/ +919654003333