Kumari Palany & Co

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First quarter profit for SpiceJet

Posted on: 29/Jul/2015 11:53:16 AM
SpiceJet has announced a first quarter profit. This is the second consecutive profit for the company which had experienced a loss at the same time last year. It has posted  first quarter profit of Rs.72.80 crore. Last year, the company had posted a loss of Rs. 124.10 crore. 

A SpiceJet official said, "We are working hard to build a world class airline again. These results show that we are on the right path... There (is) still a long way to go and confident that the best is still ahead for the airline... We have made significant improvements in our cash flows and liquidity position, and have been discharging our obligations on time. We are emphatically no longer under financial stress. During this quarter, we have re-inducted an aircraft that had previously been returned and are in discussions to re-induct few more, which reflects renewed lessor confidence in SpiceJet."