GURUGRAM:
SpiceJet, the country’s favourite airline, reported a net loss of INR 57 crore for the quarter ending December 31st, 2020 as against a loss of INR 112.6 crore in Q2 FY21.
Total income was INR 1,907 crore for the reported quarter as against INR 1,305 crore in Q2 FY21. For the same comparative period, expenses were INR 1,964 crore as against INR 1,418 crore. On an EBITDA basis, SpiceJet achieved a profit of INR 451.4 crore for the reported quarter as against INR 442 crore. On an EBITDAR basis, the profit was INR 518.4 crore for the reported quarter as against a profit of INR 475 crore in Q2 FY21.
Ajay Singh, Chairman and Managing Director, SpiceJet, said, “As we report our Q3 numbers today, I am glad that 2020 is finally behind us. The pandemic has, undoubtedly, been the biggest crisis to hit the aviation industry and we are confident that things will only get better for us from now on.”
“We have successfully managed to trim down our losses considerably with each passing quarter despite limited operations and muted demand. SpiceJet yet again recorded the industry’s highest domestic load factor and has also demonstrated market leadership in passenger RASK amongst listed Indian peers.”
“With our cargo business proving its true potential, the passenger business getting back on track significantly and a tight control on costs, we have managed to reduce our losses significantly in this quarter. There has been a remarkable recovery from where we were a few months back and with the world’s biggest vaccination drive underway I see a strong revival across sectors. Our results are reflective of the massive exercise being undertaken by the Company to align our cost base and we continue to explore and implement best practices to further bring operational efficiency and accomplish best cost base in the industry.”
“We proudly carried India’s first consignment of Covid-19 vaccine on January 12 and have transported 13.2 million doses till date and will continue to actively participate in the transport of vaccines both within and outside the country in the weeks and months to come.”
SpiceJet continues to engage with Boeing to recover damages incurred by the Company due to the grounding of the MAX and the re-induction of these aircraft in the fleet.
In terms of operational parameters, SpiceJet had the best domestic passenger load factor of 76.8 % amongst all airlines in the country during the quarter.
