A strong 8 per cent increase in passenger yields helped the airline partially offset record high cost due to 34 per cent increase in crude
oil prices and 11 percent depreciation in rupee.
“Despite the huge cost escalation in ATF and exchange rate, SpiceJet
has done remarkably well thanks to our superior revenue performance, tight control on other costs. With a strong improvement in the macro cost environment and the increasing induction of the fuel efficient MAX aircraft, the outlook looks stronger than it has over the past year,”
chairman Ajay Singh said. SpiceJet continues to pursue our ambitious growth plans as it introduce new maiden flights, lead the regional connectivity scheme Udan initiative of the government, add new aircraft and explore newer growth avenues while keeping our costs under check, he said. “With sector headwinds having subsided, we are bullish on our future prospects and will continue to invest aggressively in creating capacity in line with our forecasts,” Singh added.
“The new generation 737MAX aircraft with its cost efficiencies and increased revenue opportunities (due to superior payload performance) will become a substantial portion of our Boeing fleet further improving our margins. The increased seating capacity on the Bombardier Q400s will also result in improved margins,” he said.
The airline also said that its average fare were up 25 per cent over the July-September quarter of the current fiscal year while it the passenger load factor stood at 91.6 per cent during the reporting quarter. SpiceJet bagged 36 new sectors under the third face of the Udan and launched 54 new flights including ten under Udan during Q3FY19, it said.