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SpiceJet Jan-March net loss widens 4-fold
May 30, 2012 / 2:17 PM / 5 years ago

SpiceJet Jan-March net loss widens 4-fold

NEW DELHI (Reuters) - Low-cost carrier Spicejet (SPJT.BO) said on Wednesday net loss for January-March quarter widened more than four-fold to 2.49 billion rupees, as fuel and airport charges swelled in the country’s fiercely competitive market.

Construction workers erect scaffolding at the site of metro station as a SpiceJet Airlines aircraft flies past in Chennai May 14, 2012. REUTERS/Babu/Files

The No. 3 Indian carrier by market share had incurred losses of 586 million rupees in the year-ago period.

Spicejet said there was some easing in costs in recent months, and sees lower fuel costs once the company starts importing jet fuel directly.

($1 = 55.8150 rupees)

Reporting by Anurag Kotoky; editing by Malini Menon

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