Highlights:
* SpiceXpress reports a profit of INR
* Operating Revenue increased by 45% YoY to INR 1953 Crore
* Cargo hive off to be completed in Q3
* Expect significant operational improvements & restructuring benefits starting Q3
* ECLGS funding increased to INR
* For the quarter ending
* Operating Performance Highlights
* Net Loss (including non-cash forex impact) of INR
* EBIDTA loss of INR
* Industry's highest Load Factor of 85% for domestic scheduled flights, improvement of 8% compared to same quarter last year
* 30% increase in number of flights
* Launched 12 new sectors during the quarter
Re-introduces 'SpiceLock', a unique service that allows passengers to lock their desired fare for 48 hours without name, thus allowing passengers to plan their journey hassle-free
Launched first of its kind taxi service with zero cancellation fee and zero wait time with 100% confirmed, sanitized cabs at 28 major airports including
Unveiled a special livery on its aircraft to mark the opening ceremony of the 44th Chess Olympiad held in
Revenue Highlights (in comparison to same quarter last year)
* ASKM increased by 71%
* Pax RASK increased by 22%
* Yield improvement of 11% resulted in increase of passenger revenue by 109%
* Ancillary revenue increased by 69%
* 215 charter flights operated utilizing over 31,000 seats
* Operating revenues rose to INR
* Operating Cost Highlights (in comparison to same quarter last year)
* Increase in average
* Highest currency depreciation of 10% (INR against USD)
* Key highlights for quarter ending
* SpiceXpress revenues at INR
* Posts Net Profit of INR
* Profit margin increased to 10% from 8% QoQ
* EBITDAR profit of INR
* Transported 27,674.98 tonne of cargo in Q2FY2023
GURUGRAM:
Total revenue for the reported quarter was INR
'A near to normal business environment and an upturn in business and leisure travel coupled with government aid are giving hope to positivity. The high
In terms of operational parameters,
The airline launched 12 new routes and operated 215 charter flights in the quarter.
Disclaimer:
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in aviation sector including those factors which may affect our cost advantage, wage fluctuations, our ability to attract and retain highly skilled professionals, time and cost overruns on various parameters, our ability to manage international operations, reduced demand for air travel, liability for damages, withdrawal or expiration of governmental fiscal incentives, political instability, legal restrictions on raising capital or general economic conditions affecting our industry.
The words 'anticipate', 'believe', 'estimate', 'expect', 'intend' and similar expressions, as they relate to us, are intended to identify certain of such forward looking statements. The Company may, from time to time, make additional written and oral forward-looking statements, including statements contained in our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
About
The airline also operates a dedicated air cargo service under the brand name SpiceXpress offering safe, on-time, efficient and seamless cargo connectivity across
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