Small BusinessSpiceJet posts profit of Rs 109 cr
Improved passenger numbers in the last three months helped low-cost carrier SpiceJet post a profit of Rs 108.9 crore in the third quarter ending December 31, 2009. The airline had incurred losses of Rs 17.96 crore during the same period last year.
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Even though there had been no major fare hike announced in the third quarter, the airline registered a 36 per cent growth in income from operations to Rs 642 crore from Rs 472 crore during the same period last year.
The New Delhi-registered airline, with a market share of 12.9 per cent (in the last quarter), is the second-largest low-cost carrier in terms of market share. It registered 56 per cent growth in the number of passengers.
“The aviation industry has taken a turn for the better and we believe SpiceJet has outperformed others on all parameters,” said a release quoting CEO Sanjay Aggarwal.