SpiceJet turns the corner, returns to profitability

Premium Analysis

Delhi-based SpiceJet returned to profitability in the three months ended 30-Jun-2009, reporting a net profit of USD5.5 million (compared to a USD26.8 million loss in the previous corresponding period), helped by lower fuel costs. The LCC's turnaround in the current environment is described by CEO, Sanjay Aggarwal, as an "amazing result".

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