SpiceJet posts £2.3 mn profit

SpiceJet has posted a profit of £2.3 milliom in October-December, 2021, period against a loss of £5.7million in same period last year. The low-cost carrier says its total income this Q3 grew to £267.9 6 million up by 42. 8% from £187.57 million in same period last fiscal. The Q3 profit of the only other listed (operational) airline, IndiGo, was £13 million.
SpiceJet CMD Ajay Singh said, “SpiceJet reported a profit in Q3 driven by excellent logistics operations, rebound in passenger traffic and various accommodations from aircraft manufacturer and lessors…. Our performance would have been much better but was impacted by the unexpected delay in the return to service of the 737 MAX, rising fuel costs and certain exceptional adjustments… there are renewed signs of recovery in the passenger segment and the logistics segment continues to remain strong. ”