SpiceJet

The Q2FY21 results of India’s second-largest low-cost carrier point to the continued fragility of the airline’s financial health driven by large accumulated losses, questionable revenue recognition policy and uncertainty surrounding the resumption of international airline operations currently suspended on account of the pandemic. SpiceJet Q2FY21 results snapshot (in INR) comparisons to Q2FY20 ● Revenues ₹1,305 crores (down by 54%) ● …

After a long delay, India’s second-largest low-cost carrier reported its Q4FY20 results yesterday. Despite strong revenue growth, the airline posted a loss of ₹807 on account of increases in fuel costs, decline of the rupee and the impact of COVID-19 pandemic. The accumulated losses and increase in liabilities have deteriorated the financial health of the airline. SpiceJet Q4FY20 results snapshot …

February 14th saw SpiceJet report its third-quarter results. The airline reported a profit of INR 78.2 crores but we believe the results warrant closer examination. This because of the Boeing 737MAX grounding and the fact that compensation that has been recorded but not yet received by SpiceJet significantly contributed to this result. Additionally, in looking at the operational numbers, it …

SpiceJet, now India’s second-largest domestic airline, reported its second-quarter results of the fiscal year 2019-2020 (Q2FY20) this Wednesday. It was a result that was met with mixed expectations and also one that seems to be underplayed. We attempt to present an analysis that may help deconstruct the figures. The focus has been on a net loss of INR 462 crores …

SpiceJet reported their Q1FY20 earnings this Friday. A profit was expected but the quantum of the profit surprised several analysts. The airline reported a net profit of INR 261.7 crore and total income of INR 3,145.3 crore for the quarter ending June 2019 as against a loss of INR 38.1 crore and INR 2,253.3 crore for the corresponding quarter last …

May will see the launch of SpiceBiz – SpiceJet’s business class product. It is a strategic shift for an airline that operates on the LCC business model and one that leverages the opportunity presented after the grounding of Jet Airways. The industry is abuzz with debate on whether SpiceJet can pull this off. Our contention is that SpiceBiz may redefine …

Emirates and SpiceJet have announced a codeshare agreement to allow both the airlines to take advantage of each others network. The airlines have signed a Memorandum of Understanding (MoU), which following regulatory approvals will allow SpiceJet to place its code and offer connections on Emirates vast international network. Emirates will gain access to 51 domestic destinations with 10 direct destinations …

Low-cost carrier SpiceJet will launch two new flights to Bangkok from 17 May 2019. The airline is launching a new route from Mumbai to Bangkok. It will also double its current Delhi – Bangkok with a second daily flight. The airline is attempting to capture market share in the wake of the Jet Airways collapse. It will be adding 27 …

Low cost carrier SpiceJet has announced that it will be leasing six Boeing 737-800s. These aircraft will be in addition to the previously announced 16 737s and 5 Q400s that the airline announced that it will be inducting. The airline has applied to the DGCA to import these aircraft and plan to induct the aircraft in the next 10 days. …

Low-cost carrier SpiceJet has announced that it will add five additional 90-seater Bombardier Q400s to its fleet. Three of the aircraft will join the fleet in the next 10 days while the remaining will be inducted in June. SpiceJet was the launch customer of the 90-seat Q400. The airline placed an order for 50 of the type back in September …

SpiceJet has announced that it will dry lease 16 additional Boeing 737-800s. The airline has applied to the Directorate General of Civil Aviation for a No Objection Certificate to import the aircraft. The airline has not identified the source of the lease. SpiceJet currently has 13 737 MAX 8s grounded and has indicated that the recent troubles of Jet Airways …

Low-cost carrier SpiceJet has announced new UDAN flights from Jharsuguda, Odisha, Kishangarh, Rajasthan and Lakhimpur, Assam. The airline has launched 14 new UDAN and 14 other direct flights. Starting today the airline will operate the UDAN routes of Kishangarh-Ahmedabad-Kishangarh, Lakhimpur-Guwahati-Lakhimpur, Jaipur-Amritsar-Jaipur, Delhi-Jharsuguda-Delhi, Hyderabad-Jharsuguda-Hyderabad, Kolkata-Jharsuguda-Kolkata and Bhopal-Udaipur-Bhopal. The airline has also launched direct flights on the Mumbai-Bhopal-Mumbai, Mumbai-Gorakhpur-Mumbai, Chennai-Patna-Chennai, Delhi-Bhopal-Delhi (two …

SpiceJet announced the launch of 8 new direct flights to Gwalior in Madhya Pradesh. This city will be connected under the UDAN III scheme. It is the airline’s 11th destination under the regional connectivity scheme (RCS). In doing so, SpiceJet continues building its network strategy of connecting smaller towns and cities while leveraging the government’s flagship policy. The UDAN scheme …

SpiceJet, reported its third quarter results of the fiscal year 2018-19 (FY19) this Monday. There were mixed views on the performance. While a profit of 55.1 crores is definitely good news, when compared to the same period last year the profit declined by 77%. Performance also cannot be cited as definitive as this came during the strongest quarter of the …

Low-cost carrier SpiceJet has announced a daily flight Hyderabad and Jeddah. The airline will begin operating the flight from 25 March 2019 on its new Boeing 737 MAXs. Jeddah will be the third destination for the airline in the Middle East after Dubai and Muscat and ninth international destination in total. Ajay Singh, Chairman and Managing Director, SpiceJet “It is …

Low cost carrier Spicejet is adding eight new direct flights from Hyderabad to Kolkata, Pune and Coimbatore. The airline will operate these flights daily commencing on 1st January 2019. Flight No. Origin Destination Departure Arrival Frequency SG 749 Hyderabad Kolkata 7:15 am 9:25 am Daily SG 750 Kolkata Hyderabad 9:55 am 12:05 pm Daily SG 751 Hyderabad Kolkata 4:45 pm …

SpiceJet, reported its second quarter results of the fiscal year 2018-19 (FY19) yesterday. Much like the results of other listed airlines, it was a loss for the quarter. SpiceJet Q2FY19 snapshot: Revenues ₹1,9104 crores (up 4%) Costs ₹2,299 crores (up 25%) EBITDAR (₹32.7) crores Profit before tax (PBT): loss of (₹396 crores) Revenue per available seat kilometre (RASK) ₹3.73 Cost per …

Low cost carrier SpiceJet has taken delivery of Bombardier’s first 90-seat Q400 turbo-prop. The Canadian airframer had announced in February 2016 that it would develop an extra-capacity 90 seat variant of the Q400. Bombardier has accomplished this by redesigning the front right door of the aircraft and moving the aft bulkhead further back. This along with reducing the space between …

Low cost carrier SpiceJet operated India’s first BioJet Fuel powered flight yesterday. The airline operated the flight with a Bombardier Q400 on the Dehradun – Delhi route. The fuel used is a blend of 75% traditional aviation turbine fuel (ATF) and 25% of BioJet fuel. The fuel is made by Jatropha crop and been developed by the CSIR-Indian Institute of …

SpiceJet, reported its first quarter results of the fiscal year 2018-2019 (Q1FY19) last week. Much like its rival Indigo, it was a result that reflected the ongoing weakness in the market and was below expectations. Key numbers SpiceJet Q1FY19 results snapshot (in INR) comparisons to Q1FY18 Revenues ₹2,236 crores (up 20%) Costs ₹2,245 crores (up 31%) EBITDAR ₹398 crores (down …