SpiceJet narrows second quarter losses

Delhi-based SpiceJet narrowed its losses in the three months ended 30-Sep-2009, reporting a net loss of USD22 million (compared to a USD42.0 million loss in the previous corresponding period), helped by lower fuel costs. CEO, Sanjay Aggarwal, cited low yields as a key reason behind the loss despite an increase in revenue and a stable cost base. [1255 words]

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This report contains the following subheadings:

• Stellar increase in passenger traffic
• Increases first half revenues
• May raise up to USD50 million
• Considering operational alliance with Jet Airways
• Signs a range of commercial agreements
• Outlook: Yields firming up, breakeven result for full year

This report contains the following charts and tables:

• SpiceJet operating profit margin and net profit margin: 4QFY2008 to 2QFY2010
• SpiceJet financial highlights for three months ended 30-Sep-09
• SpiceJet passenger numbers and passenger number growth: 2QFY07 to 3Q09
• SpiceJet market share: Aug-2006 to Sep-2009
• SpiceJet financial highlights for six months ended 30-Sep-09
• SpiceJet share price growth: Aug-2008 to Oct-2009