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SpiceJet registers eighth consecutive profitable quarter
Registers growth in revenue and passengers carried
Grows capacity on key domestic routes
Registers record load factor and best on-time performance

Gurgaon, February 14, 2017: Carrying forward its remarkable turnaround story, SpiceJet Ltd. today announced its eighth successive profitable quarter with a profit of INR 181.1 crore for the quarter ending December 31, 2016, despite a softening of demand due to demonetisation.

SpiceJet reported operating revenue of INR 1642.4 crore in the quarter. On an EBITDA basis, SpiceJet reported a profit of INR 241.3 crore. On an EBITDAR basis, the Company reported a profit of INR 484.2 crore.

Profits for the quarter were impacted by demonetization and higher fuel prices. Despite this, margins on EBITDAR, EBITDA and EAT basis were 28%, 14%, 11% respectively.

The December quarter saw SpiceJet excelling on all operational parameters emerging as the country’s most punctual airline while continuing to record the industry highest load factor of over 90% for 21 months in a row.

This is the eighth consecutive profitable quarter for SpiceJet since its turnaround after December 2014. The airline recorded a load factor of 90.7% for the quarter, the highest in the industry. SpiceJet also showcased remarkable on time performance for the quarter by clocking the highest ranking across all metros.

“We have reported our eighth successive profitable quarter despite headwinds. SpiceJet’s dramatic turnaround story has made the world sit up and take notice. Our historic aircraft order signifies the end of the turnaround phase for SpiceJet and marks the beginning of a growth story. This order will help build an even stronger and more profitable airline. We will be relentless in reducing our costs and identifying new avenues for revenue generation,” said Ajay Singh, Chairman and Managing Director, SpiceJet Ltd.

About SpiceJet Ltd:

SpiceJet is India’s favourite airline that has made flying more affordable for more Indians than ever before. SpiceJet operates 343 average daily flights to 45 destinations, including 39 domestic and 6 international ones. The airline connects its network with a fleet of 32 Boeing 737NG and 17 Bombardier Q-400s. The majority of the airline’s fleet offers SpiceMax, the most spacious economy class seating in India, as an additional fee option.

SpiceJet’s global recognition commenced in 2017 with 'Asia's Greatest Brands - 2016', ‘Global Asian of the Year Award’ for Mr Singh, 'Asia's Greatest CFO 2016' at the AsiaOne Awards at Singapore ( Jan 2017). Adding to the awards received throughout 2016, some of the key accolades being ‘World Travel Leaders Award’ received by Ajay Singh at WTM London (Nov 2016), ‘Best Check- in Initiative’ award by Future Travel Experience global awards in Las Vegas (Sep 2016), Smart Check In Initiatives awarded at CIO 100 India Symposium & Awards in Pune (Sep 2016), ‘Best Employee Engagement’ amongst 104 corporate entries at the 4th DMA - Thomas Assesments National Award for Excellence in Talent Management in New Delhi (Aug 2016), Best Transportation brand as well as the Best Airline Brand in India for 2016 by Brand Trust Report (Apr 2016) and the four Best Domestic Airline Awards, one for each of the four regions of India by DDP TravTalk.