Budget carrier SpiceJet expects to address all its legacy issues, including those related to aircraft costs, in the next 2-3 quarters after tackling the low-hanging ones, its chief Ajay Singh has said.
To reduce overall costs, SpiceJet is re-negotiating contracts related to aircraft lease, engineering, maintenance and other areas as some of the pacts are "out of sync" with realities, airline's chief Ajay Singh said.
Low-cost airline SpiceJet Monday said it has rolled out a special one-way low-fare offer, starting at Rs 826 sans taxes for domestic flights and Rs 3026 plus taxes for an international journey for a limited period to commemorate the Republic Day.
"We are in the process of placing a large aircraft order. The airline will order in excess of 150 planes - we hope to do that in this financial year," Ajay Singh, SpiceJet’s chairman and managing director, told a news conference in Dubai.
Stocks of SpiceJet and InterGlobe Aviation ended the day with gains, while Jet Airways closed in the negative zone amid high volatility after CCI slapped penalties on them for cartelisation, even as the airlines said they will oppose the order.
Clamping down on unfair business practices in the aviation sector, Competition Commission today slapped penalties totalling Rs 258 crore on Jet Airways, IndiGo and SpiceJet for cartelisation in fixing fuel surcharge for transporting cargo.
The airline Thursday reported a net profit of Rs 23.77 crore in the three months ended September on the back of a steep fall in fuel costs and other expenses. It had a net loss of Rs 310.45 crore in the year-ago period.
Staying profitable for the third consecutive quarter, low-cost carrier SpiceJet Thursday reported a net profit of Rs 23.77 crore in the three months ended September driven by a steep fall in fuel costs and other expenses.