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SpiceJet posts US$3.1 million quarterly profit
February 22nd 2022
India’s SpiceJet has reported a net profit of 232.8 million rupee (US$3.1 million) for the three months to December 31, swinging to profitability from a net loss of 5.6 billion rupee in the same months in 2020. Read More » Revenue rose 42.9%, to 26.8 billion rupee, SpiceJet said in a regulatory filing to the BSE India stock exchange. “I am happy SpiceJet has reported a profit in Q3 fiscal year driven by excellent logistics operations, a rebound in passenger traffic and various accommodations from aircraft manufacturers and lessors," SpiceJet chairman and managing director, Ajay Singh, said.
The Omicron variant of COVID-19 halted recovery in the sector in the second half of December, Singh said. The India LCC intends to ramp up its 737 MAX flying as it aims for a "stronger comeback" in 2022.
