Spicejet earns massive profit from Jet airways closure

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Spicejet earns massive profit from Jet airways closure
Spicejet earns massive profit from Jet airways closure

Spicejet earns massive profit from Jet airways closure: Taking advantage of the closure of Jet Airways in April, economical airline Spice Jet posted a record profit of Rs 261.7 crore for the quarter ended June 2019, compared to a loss of Rs 38.1 crore in the year-ago period. Was. The airline reported a total revenue of Rs 3,145.3 crore in the April-June quarter, compared to Rs 2,253.3 crore in the same quarter of FY 2018-19. Accordingly, revenue grew by 39.5 percent.

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Third quater

In the third quarter under review, the airline added 32 aircraft to its fleet and the total number of aircraft of the company was 107 as of 30 June 2019.

Ajay Singh, Chairman and Managing Director of the airline said, “SpiceJet is on a fantastic growth journey and this quarter has been special for us. We added 32 aircraft to our fleet, demonstrating our strong business model and proven operational capabilities, as we are expanding rapidly in the crisis zone. ”

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Official Statement

According to the official statement, the operating revenue of the airline increased to Rs 3,002.1 crore in the reporting period as compared to Rs 2,220.4 crore in the same period last fiscal.

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