SpiceJet flies to operational breakeven

Chennai, Jan 22 (UNI) SpiceJet declared its third quarter results for the period October to December 2007 achieving an operational breakeven.

SpiceJet's operational revenue had almost doubled over the last quarter growing 97 per cent to Rs 4,085 million, a company release here today said.

The total income was up 71 per cent to Rs 4,380 million. At the operational level, the company achieved a break-even with a profit of Rs 0.4 million compared to an operational loss of Rs 259.3 million last year.

Net profit for the quarter was reported at Rs 93.4 million, which included non-operating income from foreign exchange fluctuation of Rs 35.3 million and profit on sale of two aircrafts of Rs 57.6 million.

The number of flights during the quarter had increased from 5,506 last year to 8,918 this year, growing 62 per cent.

The number of passenger flown in Q3 last year was 6.95 lac and now it was 11.66 lakh reflecting an increase of 67 per cent.

Despite increasing the average fleet size from 8.7 aircrafts (Q3 2006) to 15.2 aircrafts (Q3 2007), the company has been successful in maintaining its load factor at 76 per cent during the quarter.

SpiceJet CFO Patha Sarathi Basu said "despite 14.5 per cent increase in fuel cost during the quarter compared to last year, we have been successful in delivering operational breakeven." UNI SNR GM 1859