JOIN US Low-cost carrier SpiceJet has posted a net loss of Rs 310.44 crore in the second quarter of 2014-15, 45 per cent down from the corresponding period in the previous fiscal.
The airline had posted a net loss of Rs 559.49 crore in the second quarter of the last financial year.
It said, it is “pleased to report significant year-on-year improvement in operating performance and reduction in losses” in the second quarter of this fiscal, in what is “traditionally the weakest quarter” of the year in India.
In its report, SpiceJet said that the company’s operating results continue to be “materially affected” by various factors, “particularly high aircraft fuel costs, significant depreciation in the value of currency, pricing pressures from competition and general economic slowdown”.
Though it did not provide the amount, the airline said it total revenues up were up by 15 per cent (passenger revenues up by 18 per cent, ancillary revenues up by 31 per cent) while the expenses were down 2 per cent.
The positive impact of year-on-year improvement in exchange rate and fuel price was Rs 29 crore.