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India's Spicejet Jan-March net loss widens 4-fold
May 30, 2012 / 2:17 PM / 6 years ago

India's Spicejet Jan-March net loss widens 4-fold

NEW DELHI, May 30 (Reuters) - Indian low-cost carrier Spicejet said on Wednesday net loss for January-March quarter widened more than four-fold to 2.49 billion rupees ($44.61 million), as fuel and airport charges swelled in the country’s fiercely competitive market.

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 Indian rupees Reporting by Anurag Kotoky; editing by Malini Menon

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