Tag Archives: FY2020

SpiceJet Q4FY20 results analysis: A sharp deterioration in financial health

Spicejet Boeing 737-800 VT-SPL "Cardamom"

After a long delay, India’s second-largest low-cost carrier reported its Q4FY20 results yesterday. Despite strong revenue growth, the airline posted a loss of ₹807 on account of increases in fuel costs, decline of the rupee and the impact of COVID-19 pandemic. The accumulated losses and increase in liabilities have deteriorated the financial health of the airline. SpiceJet Q4FY20 results snapshot …

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Indigo Q4FY20 results: Is India likely to see an airline failure? Indigo’s results point that way

Indigo Airbus A320neo VT-ITK. Image copyright Vedant Agarwal.

India’s largest airline reported its results yesterday. What was surprising was the quantum of the loss at 870.8 crores. Indigo attributes this to the impact of COVID-19, coupled with the weakness of the rupee, which has resulted in a spike in costs. Indeed, it is very telling that for an airline that is so focused and disciplined, there has been …

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SpiceJet Q3FY20 results analysis: Has rapid expansion hurt the airline?

SpiceJet Bombardier Q400 Dash 8 VT-SUB lands at Kempegowda airport Bangalore. Photo by Vedant Agarwal. All rights reserved.

February 14th saw SpiceJet report its third-quarter results. The airline reported a profit of INR 78.2 crores but we believe the results warrant closer examination. This because of the Boeing 737MAX grounding and the fact that compensation that has been recorded but not yet received by SpiceJet significantly contributed to this result. Additionally, in looking at the operational numbers, it …

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Indigo Q3FY20 results analysis

IndiGo first A320neo VT-ITC touches down at New Delhi's IGI airport after a non-stop flight from Toulouse, France

Monday, January 27th was quite a newsday for Indian aviation. In what is becoming a tale of two airlines, while the national carrier came out with its Preliminary Information Memorandum looking for someone to take over 23,286 crores of debt and 8556 crores of losses (for FY19) the other airline Indigo reported profits of 496 crores with another 20,000 crores …

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Analysis: Are the SpiceJet Q2FY20 results being underplayed?

SpiceJet, now India’s second-largest domestic airline, reported its second-quarter results of the fiscal year 2019-2020 (Q2FY20) this Wednesday. It was a result that was met with mixed expectations and also one that seems to be underplayed. We attempt to present an analysis that may help deconstruct the figures. The focus has been on a net loss of INR 462 crores …

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Indigo Q2FY20 results: clear air turbulence or something more?

Indigo Airbus A320neo VT-ITK. Image copyright Vedant Agarwal.

Indigo reported its Q2FY20 results on Friday. With a loss of 1,062 crores, the results caught many by surprise. It is too early to tell whether the results reflect challenges with the strategic direction the airline is taking (compare this to the profit of INR 1203 crore in Q1FY20) or if this was a one-off driven largely driven by operational …

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Spicejet Q1 FY20 results – The 114.1 crore conundrum

SpiceJet Bombardier Q400 Dash 8 VT-SUB lands at Kempegowda airport Bangalore. Photo by Vedant Agarwal. All rights reserved.

SpiceJet reported their Q1FY20 earnings this Friday. A profit was expected but the quantum of the profit surprised several analysts. The airline reported a net profit of INR 261.7 crore and total income of INR 3,145.3 crore for the quarter ending June 2019 as against a loss of INR 38.1 crore and INR 2,253.3 crore for the corresponding quarter last …

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