SpiceJet Q3 profits up a third despite 737 Max grounding costs
SpiceJet saw a 33% year-on-year uptick in operational profit during Q3 following the expansion of its fleet and addition of new routes in 2019. Operating profit rose to Rs732m (US$10m) during the Q3 ending in December, up from Rs550m for the same period in 2018. Operating revenue rose 47% year-on-year to Rs36.5b. Increased revenue was partially offset by a 52% year-on-year rise in expenses from Rs25b during Q3 of 2018 to Rs38b in 2019. Unfavorable foreign exchange rates and increased maintenance costs contributed to rising expenses. CASKM rose by 2% year-on-year, while RASKM shrank by 2%. Capacity, in ASKs, grew by 59% year-on-year during Q3 as SpiceJet ended the year with 119 aircraft. The carrier’s growth plans were stunted, however, with 13 Boeing 737 Max jets grounded. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-02-17/unaligned/spicejet-q3-profits-up-a-third-despite-737-max-grounding-costs
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SpiceJet Q3 profits up a third despite 737 Max grounding costs
SpiceJet saw a 33% year-on-year uptick in operational profit during Q3 following the expansion of its fleet and addition of new routes in 2019. Operating profit rose to Rs732m (US$10m) during the Q3 ending in December, up from Rs550m for the same period in 2018. Operating revenue rose 47% year-on-year to Rs36.5b. Increased revenue was partially offset by a 52% year-on-year rise in expenses from Rs25b during Q3 of 2018 to Rs38b in 2019. Unfavorable foreign exchange rates and increased maintenance costs contributed to rising expenses. CASKM rose by 2% year-on-year, while RASKM shrank by 2%. Capacity, in ASKs, grew by 59% year-on-year during Q3 as SpiceJet ended the year with 119 aircraft. The carrier’s growth plans were stunted, however, with 13 Boeing 737 Max jets grounded. <br/>
