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SpiceJet doubles net profit to Rs.58.9 crore in Q2 FY 2017
Highest Q2 profit in SpiceJet history
Seventh consecutive profitable quarter

Gurgaon, November 25, 2016: SpiceJet reported a net profit of Rs.58.9 Crore for Q2 FY 2017 as against Rs.29 crore for the same quarter last year, an increase of 103%. Operating revenue for the quarter stood at Rs.1,400 crores a growth of 35%. Capacity deployed registered a growth of 38% over the same quarter last year.

On EBITDAR basis, the Company reported a profit of Rs.333 Crore, a margin of 24%. On EBITDA basis, SpiceJet reported a profit of Rs.127 crore a margin of 9%. Total cost (CASK) declined 10% over the same quarter last year and average unit fares improved by 5% despite competitive pressures.

This is the seventh consecutive profitable quarter for SpiceJet after the challenges faced by the Company in December, 2014 and the change in management and control.

The airline recorded a passenger load factor of 92.3% in Q2, the highest in the industry. SpiceJet has recorded the highest passenger load factor in the industry for 19 months in a row and the load factor has been in excess of 90% in every month since April 2015. SpiceJet has also registered industry leading performance on important metrics such as “On Time Performance” and “Flight Cancellations.”

“This was the weakest quarter of the year and despite the intense competition in the market, SpiceJet has performed exceptionally well. We continue to focus on responsible and profitable growth,” said Ajay Singh, Chairman & Managing Director, Spicejet Limited. “We have resolved practically all our legacy issues and the stage is set for building up our cash reserves and finalising our long term fleet expansion plans,” he added.

About SpiceJet Ltd:

SpiceJet is India’s favourite budget airline that has made flying more affordable for more Indians than ever before. SpiceJet operates 342 average daily flights to 45 destinations, including 39 domestic and 6 international ones. SpiceJet connects its network with a fleet of 31 Boeing 737NG and 17 Bombardier Q-400s. The majority of SpiceJet’s fleet offers SpiceMAX, the most spacious economy class seating in India and perhaps the world, as an additional fee option.

This year, SpiceJet was recognized on numerous occasions in almost every arena – from our new initiatives to employee satisfaction to having regained the trust of the consumer and the industry at large. In November, SpiceJet CMD, Mr. Ajay Singh received the ‘World Travel Leaders’ award at the World Travel Market Awards in London. The airline was voted the ‘Best Transportation’ brand as well as the ‘Best Airline’ brand in India for 2016 by Brand Trust Report in April. In the same month, SpiceJet also won the ‘Best Domestic Airline for South India’ by DDP TravTalk. At the 4th DMA-Thomas Associates National Award for Excellence in Talent Management, SpiceJet was awarded for ‘Best Employee Engagement’ out of 104 corporates. SpiceJet was awarded the ‘Best Check-in Initiative’ by Future Travel Experience global awards in Las Vegas for its introduction of Bluetooth Low Energy (BLE) beacons and Near Field Communication (NFC) technology. The smart check-in initiative was also recognized by CIO 100 India symposium.