Aviation

SpiceJet Q2 net profit jumps to Rs 105 crore

Highest-ever Q2 profit
Profits grow by 80%, Revenue by 30%
Registers record Load Factor of over 90% for 30 successive months
Domestic load factors in excess of 94% in Q2
Launched fourth daily flight under UDAN on the Jaisalmer-Jaipur sector

Gurugram, November 13, 2017: SpiceJet reported a profit of INR 105.3 crore for the three months ended September 30th, 2017 as against INR 58.9 crore in the same quarter last year, making it the 11th successive profitable quarter for the airline. In the seasonal weak quarter, profits grew by 80% against a capacity growth of 22% during this period as against the same quarter last year. This is SpiceJet’s highest Q2 profit in its history of operations.

SpiceJet reported an operating revenue of INR 1814.3 crore in the quarter. On an EBITDA basis, SpiceJet reported a profit of INR 180 crore. On an EBITDAR basis, the Company reported a profit of INR 421.6 crore.

SpiceJet yet again excelled on operational parameters to report the highest passenger load factor amongst all airlines in the country all through the quarter. The company witnessed a 7% increase in its passenger yields (Revenue per Available Seat Kilometer) while its average load factor across the network was 93.1%. SpiceJet has recorded more than 90% load factor for 30 successive months, a feat unparalleled globally. Significantly the quarter also marked the fifth consecutive month when the airline’s domestic load factors have been in excess of 94%.

SpiceJet official press report

Related Topics:indian airline Indian Airways .etc.Profit margin spice jet

Aviation

Boeing, Antonov to Collaborate on Defense Projects

– MOU represents Boeing’s commitment to work with Ukrainian industry

– Includes exploring opportunities for collaborating on in-country support of Unmanned Aerial Systems

A Memorandum of Understanding was signed today by Boeing and Antonov Company to investigate potential collaboration on defense-related projects.

“We’re happy to keep collaborating with the Antonov Company to help Ukraine’s economic development and expansion,” stated Ted Colbert, CEO and president of Boeing Defence, Space, & Security.

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“This agreement demonstrates our ongoing efforts to find more opportunities to work with Ukrainian industry, which was underscored by our signing of the Ukrainian Defence Industry Compact earlier this year.”

The areas of potential collaboration identified in the agreement consist of training, logistical support and overhaul services for tactical Unmanned Aerial Systems utilized by the Ukrainian Armed Forces, which includes the ScanEagle. In addition, the companies will also explore opportunities for Antonov to provide engineering support to Boeing.

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“A strong, innovative, and efficient defense industry is key to sustainable economic development and national security, and we are extremely excited to collaborate with Boeing,” said Ievhen Gavrylov, CEO of Antonov Company.

This agreement brings a whole new level of opportunity to implement the latest and most effective solutions – in addition to the possibility of future projects with Boeing in the aerospace and defense industry.”