SpiceJet CEO, Sanjay Aggarwal, stated the LCC expects to report a loss in the Jul-Sep-2009 quarter, on sharply lower average ticket-prices (Reuters, 15-Oct-2009). However, the carrier stated it has seen conditions improve in the past few weeks, creating expectations of a profit in the Dec-2009 quarter and in the full year.
SpiceJet: "This quarter got killed. It was all driven by lower yields and markets ... You look at the 35% drop in yields. All that means is airlines have created less revenue. The money is not coming," Sanjay Aggarwal, CEO. Source: Reuters, 15-Oct-2009.