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SpiceJet reports second successive annual profit; losses in 4Q on yield pressure and fuel


SpiceJet reported a 64.6% jump in net profit for the 2010/11 financial year as higher load factors and an improvement in air traffic demand outweighed a steep rise in fuel costs and “significant” yield pressures. Net profit for the 12 months to Mar-2011 increased to INR1.01 billion (USD22.4 million) as revenues increased 33.2% to INR28.80 billion (USD649.6 million) with the result marking the carrier’s second consecutive annual profit. The carrier’s profit margin increased to around 3.5% in the year. [1366 words]

Unlock the following content in this report:


  • SpiceJet profitable again in¬†FY2011
  • Net loss in 4Q2011, result not as expected: CEO
  • Lack of pricing discipline a concern together with high fuel prices
  • Load factors above 80%; 30% passenger growth in domestic market
  • Considers expansion and financial requirements in FY2012. SpiceJet financing efforts to be 'challenging'
  • Focus on tight cost control and yield improvements

Graphs and data:

  • SpiceJet operating profit margin and net profit margin: FY2010 vs FY2011
  • SpiceJet destination map: May-2011
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