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SpiceJet reports significant first quarter loss, but sees “ray of hope”

4-Sep-2008

Newly recapitalised SpiceJet reported a USD23.2 million net loss for the three months ended 30-Jun-08 (its fiscal first quarter), compared to a net profit of USD6 million in the previous corresponding period. The result excluded a loss of USD6.2 million on account of a restatement of forex debt, which was charged to the profit and loss account. [914 words]

Unlock the following content in this report:

Subheadings:

  • White knight found

Graphs and data:

  • SpiceJet financials for three months ended 30-Jun-08
  • SpiceJet passenger traffic & growth rate (% change year-on-year): Jan-07 to Jul-08
  • LCC ancillary revenues as total of total revenues
  • LCCs that have recently received funds
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