The fourth biggest airline by domestic market share reports Rs.559 crore loss for Q2 on high fuel prices and a weak rupee SpiceJet, India’s fourth-biggest airline by domestic market share, reported a record quarterly net loss, hit by high fuel prices and a weaker local currency.
SpiceJet, controlled by billionaire Kalanithi Maran’s Sun Group, said net loss was Rs 559 crore for the second quarter to September 30, compared with a net loss of Rs 164 crore a year earlier.
The quarterly loss was higher than its previous worst quarterly loss of 3.27 billion rupees reported for the September quarter of 2008.
SpiceJet, controlled by billionaire Kalanithi Maran’s Sun Group, said net loss was Rs 559 crore for the second quarter to September 30, compared with a net loss of Rs 164 crore a year earlier.
The quarterly loss was higher than its previous worst quarterly loss of 3.27 billion rupees reported for the September quarter of 2008.
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