SpiceJet registers net profit of Rs 4.3 cr for Q3

Mumbai, Mar 29 (UNI) Low cost air-carrier, SpiceJet, has registered a net profit for the first time since commencement of its operations in May 2005.

A release issued here today stated that SpiceJet had posted a net profit of Rs 4.3-crore for the quarter ended February this year, as against a net loss of Rs 21.36-crore in the previous quarter.

Spicejet Director Ajay Singh, said that in every month that SpiceJet has operated, its load factor was the highest in the country.

''Our on-time performance and flight completion record have contributed to the positive perception of the SpiceJet brand and these results are an indication of the success of our model and our future potential,'' he said.

The company's operating revenues have increased by 62 per cent while its unit cost has declined by 10 per cent. And with the proposed expansion of its fleet to ten aircraft by end-2006, the company hopes to achieve improved yields and reduced costs.

SpiceJet's load factor, this quarter, remained the highest in the industry at 85 per cent while the airlines' dispatch reliabiity for February this year was 99.51 per cent, higher than the Boeing world average of 99.46 per cent, stated the release.

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