Spicejet to break-even at Rs 11 bn revenues this fiscal

Low-cost airline, SpiceJet, is hoping to break even this year projecting revenues worth Rs 11 billion during the current financial year, reports Business Standard.

Last year, the company`s revenues stood at Rs 4.81 billion. The company had already achieved operational break-even last year and would be in a position to make profits this year if the ATF and aircraft parking charges remain constant.

The company achieved a load factor of 93% on Dec. 22 by carrying 12,667 passengers in a single day. The airliner operates on 70 routes connecting 14 cities in the country. Spice Jet also holds the record for highest load factor with 95.4% passenger occupancy achieved on Apr. 18 last year.

The increase in fleet size from four aircraft per month to over eight aircraft per month is one of the main factors expected to push up the revenue by more than 100% this year.

Meanwhile, one more aircraft would be added to its fleet from this April, taking the total number of aircraft to 11. It will be the second aircraft to be based at Hyderabad, further increasing the frequency to 12 flights from the present 9 flights a day from here.

Shares of the company were last trading at Rs 55.10, up Rs 0.10 or 0.18%.Total volume of shares traded was 184.440.