The company has also increased its domestic market share to 45 per cent while on international routes it has doubled its market share to 8 per cent capitalising on the markets vacated by Jet Airways.
What should enable the company to increase its incremental markets share is the induction of A-321 fleet with 222 seats. The company inducted 5 neos in the last quarter.
For SpiceJet, the revenue growth of 26 per cent is expected to have been driven by 11 per cent growth in volumes and a 15 per cent rise in fares. This, coupled with lower fuel costs, should help the company report a profit of about Rs 85 crore in the quarter on revenues of Rs 2,574 crore. Given the grounding of most of its fleet, Jet Airways
is expected to end the quarter with a loss of Rs 600 crore.
Of the three listed players, analysts at Elara prefer SpiceJet
as their top pick. They believe there is little competition in regional routes (key focus area of SpiceJet) and strong fleet order book. Further, SpiceJet, according to them, is better placed to hire outgoing Jet Airways pilots, as both carriers are flying similar Boeing-737 aircrafts on domestic routes.