SpiceJet turns the corner, returns to profitability

Delhi-based SpiceJet returned to profitability in the three months ended 30-Jun-2009, reporting a net profit of USD5.5 million (compared to a USD26.8 million loss in the previous corresponding period), helped by lower fuel costs. The LCC’s turnaround in the current environment is described by CEO, Sanjay Aggarwal, as an “amazing result”. [661 words]

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This report contains the following subheadings:

• Passenger traffic steadily recovering
• Expects to breakeven of 2010
• Outlook: Yields to come under increased pressure

This report contains the following charts and tables:

• SpiceJet operating profit margin and net profit margin: 4QFY2008 to 1QFY2010
• SpiceJet financial highlights for three months ended 30-Jun-09
• SpiceJet passenger numbers and passenger number growth: 1QFY08 to 4QFY09
• SpiceJet market share: Jul-2006 to Jun-2009
• SpiceJet share price growth: Jun-08 to Jul-09