New Delhi, July 30, 2010: SpiceJet, India’s most preferred airline, has announced its first quarter results for the current financial year. SpiceJet reports a net profit of Rs. 55.22 crore for the quarter ended June 2010, as against Rs. 26.34 crores for the same quarter last year.

Highlights for the Quarter Ended June 30, 2010 v/s June 30, 2009

Financial performance for the quarter:

• 35% increase in Revenue from Operations.
• 24% increase in Revenue per ASK from 2.41 to 2.99
• 4% increase in Revenue per Passenger (From Rs. 3270 to Rs. 3428)
• EBIDTA improved from Rs. 21 crores to Rs. 59 Crores
• EBIDTA margin improved from 4.0% to 8.3%
• EBIDTAR improved from Rs. 121 crores to Rs. 154 crores
• Net Profit after Tax of Rs. 55.22 crores compared to Rs. 26.34 crores

Operational performance for the quarter

• 29% growth in number of passengers
• 9% growth in available seat Kilometers
• 11% growth in number of departures
• Increase in Load factor from 76% to 88%

Business Update for the quarter

The outlook for the domestic aviation sector continued to show signs of improvement with higher numbers for passenger load factor and traffic. The total domestic passenger traffic for the quarter ending June 30, 2010 stands strong at 1.35 crores as against 1.09 crores for the same quarter last year, a growth of 23%.

The domestic capacity addition during this period was 8% which indicated shrinkage in the demand supply gap. This further led to a healthy industry load factor of around 81%, the best recorded load factor in the last 5 years. SpiceJet continued to outperform the industry with a 29% growth in passenger traffic (as compared to industry growth rate of 23%) and an 88% seat factor (in comparison to industry seat factor of 81%).

This quarter also saw SpiceJet taking delivery of their 21st aircraft and commencing operations to Agartala with daily flights from Kolkata and Guwahati. SpiceJet also increased frequencies on some of its trunk routes with the addition of a fourth daily flight on the Hyderabad-Delhi-Hyderabad and the Delhi-Chennai-Delhi routes; and a second daily flight on the Kolkata-Guwahati-Kolkata, Mumbai-Kolkata-Mumbai, and the Hyderabad-Mumbai-Hyderabad routes.

Mr. Kishore Gupta, Director, SpiceJet said “We are very pleased to have begun this financial year with profits in four out of the last five quarters. Having posted our first full-year profit in March 2010, we are very optimistic about the future. Our market share has improved from an average of 12.4% during April-June ‘09 to 13% during the current quarter.”

SpiceJet completed its five years of successful domestic operations in May 2010, and has become eligible for international operations. The airline is expected to begin its international operations by September 2010 and has already received permission to fly to Dhaka, Kathmandu and Malé (Maldives).