NEW DELHI Nov 12 SpiceJet Ltd, India's second-biggest budget airline by market share, narrowed losses by 31.7 percent in the July-September quarter, benefiting from massive cuts in capacity by troubled rival Kingfisher Airlines.
SpiceJet said on Monday it lost 1.64 billion rupees ($30 million) in the quarter that ended on Sept. 30, compared with a loss of 2.40 billion rupees a year ago. ($1 = 54.7550 Indian rupees) (Reporting by Anurag Kotoky; Editing by Sunil Nair)
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Indian conglomerate Adani Group has started building the country's first transshipment port, conceived 25 years ago, and the government will construct another $4-billion facility nearby to create a shipping hub rivalling Chinese facilities in the region. Full Article