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Spicejet turnaround requires a good risk appetite

Spicejet Boeing 737-800WL VT-SGK at New Delhi airport.

SpiceJet has seen challenging times over the past 5 years. While numerous reasons can be cited for this ranging from network structure, fleet decisions, competition, ability to command a premium, management churn, market weakness and overall brand strength, the financial position of the airline as of today is quite challenging. Much is being reported about the possible funds infusion and/or …

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Spicejet statements clarifies its position and refutes media frenzy. Our analysis.

The last week has seen a flurry of reports on the troubles of Spicejet. Some accurate, some totally wrong, and many with a mixture of half truths that create more confusion, rather than inform the reader. Amid the media frenzy, the airline has issued three statements to clarify the situation from its point of view. Spicejet statement issued December 5, …

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Spicejet Boeing 737-800 hits stray buffalo, airline suspends operations to city

Spicejet Boeing 737-800WL VT-SGK at New Delhi airport.

A SpiceJet Boeing 737-800(WL) registration VT-SGK ‘Garlic’ performing flight SG-622 from Surat, Gujarat to New Delhi, on November 6, with 140 passengers and six crew on-board, while on its take-off run on runway 04, struck a buffalo which had strayed on to the runway. The plane impacted the animal at approximately 80 knots speed. The aircraft suffered extensive damage to …

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Sale offer from SpiceJet starting at Rs 1,999

Gurgaon based low fare carrier SpiceJet has announced yet another sale. This is for flights from select cities, Delhi, Mumbai, Bangalore, Hyderabad, Chennai and Kolkata. Fares commence at Rs. 1,999 all inclusive and tickets need to be purchased till September 16, 2014. The travel period is from October 7, 2014 to January 15, 2015 and the usual terms and conditions …

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SpiceJet will first serve passengers who pre-booked meals before general service

As an incentive to passengers who pre-book their in-flight meals, budget carrier SpiceJet will serve them first, before commencing general meal and drinks sales service in flight. Pre-booking enables an airline to better prepare meals for a flight thus improving availability and reducing wastage. Many airlines, including competitor IndiGo already adopt this practice. SpiceJet also offers a lower price for …

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Spicejet pre-tax loss narrows to Rs 124 crore in Q1 FY2015. Company says due to restructuring.

SpiceJet Boeing 737-800WL VT-SZK in special crew livery. With all our heart slogan. Photo courtesy Spicejet.

Embattled low fare carrier SpiceJet, reported a loss before tax of Rs 124.10 crore (approx. $20.8 million) for the first quarter of fiscal 2014~2015, ended June. This compared to the profit of Rs 50.56 crore in the same quarter a year earlier. Total income from operations fell to Rs 1,691.04 crore down from Rs 1,701.54 crore in the same quarter …

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SpiceJet recommences Dubai flights from Mumbai and Madurai

Indian low fare carrier SpiceJet will resume its services to Dubai from Mumbai and Madurai from July 21, 2014. These flights, originally launched in June 2012 and November 2013 were suspended in May when Dubai airport commence runway repairs. The airline is offering a special sale fare on these new flights starting at Rs. 5,499 from Mumbai and Rs. 5,999 …

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SpiceJet adds flights in Hyderabad, New Delhi, Coimbatore and Bangalore

Gurgaon based low fare carrier Spicejet is adding new flights the Hyderabad-Delhi, Hyderabad-Coimbatore, and Bangalore-Delhi routes. A limited time period flight has been added on Delhi-Hyderabad sector to meet seasonal demand. The airline will also introduce a second direct flight on the Hyderabad-Coimbatore route using the 78 seat Bombardier Q-400 Dash-8 turbo-prop. This will supplement the existing flights between the …

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SpiceJet discounts family group fares 25%

Following neighbour and competitor IndiGo, Gurgaon-based SpiceJet has also launched a family group fare offering a discount of 25% on the base fare for groups of four to nine passengers. The “Friends and Family special” offer is available only on domestic flights. An example Delhi – Mumbai sector for travel on May 10th to compare fares before and after friends …

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Analysis: SpiceJet offers ‘on-time guarantee’ to passengers

Driven by its recent industry leading on-time performance (OTP) over the last few months, Gurgaon based low fare carrier, SpiceJet, has announced an ‘On-Time Guarantee’ program for its passengers. All SpiceJet passengers travelling from today May 6, 2014 will be given discount vouchers redeemable on their next travel, for flight delays due to reasons in the control of SpiceJet. In …

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Executive blood bath at SpiceJet – new officers announced

Beleaguered low fare carrier SpiceJet appears to be in the midst of a massive executive churn with many of the airline’s senior management departing voluntarily or being asked to leave. As per reports in The Mint and FirstBiz chief technology officer Virender Pal was summoned by the new chief operating officer, Sanjiv Kapoor, and literally asked to leave on the …

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Analysis: SpiceJet third quarter fiscal 2013~2014 results – excess capacity killing industry

Earlier this week, low cost carrier SpiceJet reported its latest round of disappointing financial results, reporting a Rs. 172.80 crore net loss for the third quarter of fiscal year 2013~2014 (3Q FY14), swinging from a net profit of Rs. 102.01 crore during the same period last year. The carrier blamed high fuel prices and rupee depreciation for the net loss, …

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Opinion: SpiceJet will order Boeing 737 MAX only in next fiscal, after funds infusion

Last the week the newswires were abuzz with stories about Indian budget carrier SpiceJet ordering up to 40 Boeing 737 MAX aircraft. While the ordering of the new fuel efficient MAXs is a foregone conclusion, given the airline’s need to continue its growth, the timing is not certain. What is certain is the airline’s precarious financial position. For the second …

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