New Delhi October 31, 2008 For the fiscal quarter ending in September 2008, SpiceJet experienced

• 53% growth in Operating Revenue from Rs. 223 crore to Rs. 340 crore
• 77% increase in Average fare realization from Rs. 2256 to Rs. 3987
• 43% increase in Revenue per flight from Rs. 292 K to Rs. 418 K
• 32% increase in Revenue per Available Seat Kilometre from Rs. 1.59 to Rs. 2.10
• 3% growth in number of flights from 7288 to 7527
• 86% On Time Performance
• Net loss of Rs. 150 crores SpiceJet witnessed a 53% growth in Operating Revenue on back of a 3% increase in number of flights in comparison to same quarter last year. The company reported a 43% growth in revenue per flight on account of increased passenger yield. While announcing the results, Sanjay Aggarwal, the newly appointed Chief Executive Officer, said that “Given our volatile times, managing cost effectively is intrinsic to the success of any business. This is all the more true for the aviation industry and at SpiceJet all our efforts remain focused on controlling our costs and to pass on the benefit to our passengers. For an airline operating in India, our cost on fuel still remains high and it has impacted our performance this quarter.” While speaking on the revenue generated during the quarter, he said that, “We have been able to achieve a 43% growth in revenue per flight driven by a 77% enhancement in Average Fare realization this quarter when compared to last year. Our Revenue per Available Seat Kilometre (RASK) has also grown by 32% over the same quarter FY08.” SpiceJet continued to maintain an excellent On Time Performance (OTP) and recorded 86 % on time performance during the quarter. For the quarter, SpiceJet reported a net loss of Rs. 150 crores due to increase in Fuel cost during the quarter. This excludes a loss of Rs. 48 crores on account of restatement of FOREX debt. Like last year, there has been no significant change in accounting policy during this quarter. Commenting on the future, Sanjay said, “We have all seen correction in ticket pricing this quarter as in the first quarter of this fiscal. The revised prices are holding in the market place and we envisage that it will be the case moving ahead at least till the end of this fiscal year.” He also added, “Spicejet has a group of very talented employees and we will continue to build upon our strengths to deliver the highest quality customer experience.” About SpiceJet Ltd.: SpiceJet is India’s ‘best low cost airline’ *, delivering the lowest air fares with the highest consumer value. We operate 98 flights daily to 17 cities viz. Ahmedabad, Bangalore, Bagdogra, Chennai, Coimbatore, Delhi, Guwahati, Goa, Hyderabad, Jammu, Jaipur, Kolkata, Mumbai, Pune, Srinagar, Varanasi and Visakhapatnam. Our on-time performance is amongst the best in India, at 88%, coupled with a Technical Dispatch Reliability of 99.6%, making us an airline with least cancellations. SpiceJet’s new generation fleet of 15 Boeing 737-800 / 737-900ER aircraft are backed by cutting edge technology and infrastructure to ensure the highest standards in safety and operating efficiency.
• *SpiceJet is the Eighth Best Budget Airlines in Asia as recognized by Smart Travel Asia magazine (Sept 2008) Hong Kong
• *SpiceJet was voted the Best Low Cost Airline by a national reader’s survey by India’s leading travel magazine Outlook Traveler. (Feb 2008) India
• *SpiceJet was awarded the Best Low Cost Airline by TAFI (Travel Agents Federation of India)-Abacus, Kota Kinabalu, and (2007) Malaysia.

SpiceJet announces 3 lakh tickets for only Rs 3- Celebrating over 8 million passengers and 3 years in the Indian skies- New Delhi, 14 May 2008: SpiceJet, India’s most preferred low – frills airline, has announced a unique offer of 3,00,000 tickets at a special price of Rs 3/- per ticket. This special offer flags off the third anniversary celebration of the airline. Booking for this special promotion, was opened on May 9, 2008 and will continue till the tickets are sold out. Tickets bought will be valid for travel from July 1 to September 21, 2008 on all flights covering 18 destinations. This offer is available only on –www.spicejet.com. Announcing this special offer, Samyukth Sridharan, Chief Commercial Office

– SpiceJet Ltd. said, “In the last three years we have flown over8.1 million happy SpiceJetters across all our destinations. They have helped us get over 10.3% market share. This special promotion is our way of thanking them for their support. We also believe this will encourage many first time travellers to experience our services”On May 23, 2008, SpiceJet completes its third year of flying and putting smiles in the sky.

To ensure convenience and to encourage more people to comfortably fly, the SpiceJet network spans all four corners of India – from Srinagar in the north to Coimbatore in the south ; from Ahmedabad in the west to Guwahati in the East. While the network has grown, conscious efforts have been towards controlling cost without compromising on quality and service standards. Over last three years, SpiceJet has gained substantially by keeping the cost per available seat kilometer (CASK) at Rs. 2.65, which is the lowest in the industry. Commenting on the occasion, Mr. Siddhanta Sharma, Executive Chairman, SpiceJet Limited says, “We are happy to be three years young today. I am delighted that we connected over 8 million passengers to their chosen destination. Our fleet comprising 737-800 and 737-900, has the average age of one and a half years. This year we will take delivery of 5 more aircrafts to embellish the fleet strength, in fact we take the delivery of or 18th aircraft on our anniversary day. We will continue with our strategy of adding more frequency to the airports already served by us.’“We are proud that, our efforts have been recognized by the trade and the consumers alike. SpiceJet was recognized as the Best Low Cost Airline for 2007 by TAFI (Travel Agents Federation of India), awarded at Kota Kinabalu, Malaysia. Following this award, a public opinion survey by Outlook Traveler, a leading travel magazine (2008 Feb), ranked SpiceJet as the best airline for its services, efficiency, connectivity and value for money over other low cost carriers.” Sharma added.

* For travel between 01 July and 30 September 2008
* Taxes and Charges as applicable,
* Terms and conditions apply. For details please visit www.spicejet.com

To celebrate our 3rd birthday, 3 lakh SpiceJetters will fly for Rs 3!
Book May 9 onwards to any of our 17 destinations for travel from July 1 to Sept 21, 2008 and fly for a fare of just Rs 3*. To avail of this limited birthday offer just log on to www.spicejet.com and get lucky.
*Terms and Conditions Apply. Taxes and Charges Apply.