4th biggest airline by domestic market share stated
Rs 559 crore loss for Q2 on high fuel prices and a weak rupee SpiceJet India’s 4th
biggest airline by domestic market share accounted a record quarterly net loss, hit by high fuel
prices and a weaker local currency.
SpiceJet, managed by billionaire Kalanithi Maran’s Sun Group
net loss was Rs 559 crore for the 2nd quarter to September 30,
compared with a net loss of Rs 164 crore a year previous.
The quarterly loss was upper than its earlier worst quarterly
failure of 3.27 billion rupees stated for the September quarter of 2008,
according to Thomson Reuters. SpiceJet and rivals such as Jet Airways operate
in a country where provincial taxes make jet fuel among the world’s most
expensive.
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