5th successive profitable quarter for the airline

New Delhi, January 27, 2011

SpiceJet, India’s only profitable listed airline, continues its successful record with yet another quarter in the black. The airline reports a net profit of Rs. 94.4 crores for the quarter ended December 2010 with a 10% improvement in EBITDA to Rs. 114 crores over the same period previous year. With this result, SpiceJet has now declared a profit for the last 5 successive quarters. Reflecting the robust growth in domestic passenger traffic, SpiceJet had their highest quarterly load factors of 87.8% during this period and closed with an all-time high market-share of 13.6% for the quarter against load factor of 80% and a market-share of 12.5% for the same quarter last year.

Highlights for the quarter ended December 31, 2010 vs December 31, 2009

Operational

• 33% growth in number of passengers.
• 19% growth of Available Seat Kilometres.
• 21% growth in number of departures.

Financial

• 28% increase in Revenue from Operations.
• 7% increase in Revenue per Available seat Kilometer.
• EBIDTAR margin at 27%.
• EBIDTA margin at 14%.>/li>
• 8% increase in Profit before Tax for the quarter to Rs. 118 crores.
• MAT impact of Rs. 23.5 crores for the quarter.
• Net Profit of Rs. 94.4 crores for the quarter.

Neil Mills, Chief Executive Officer, said “In a sense, this has been a very crucial quarter for us. During these three months we have firmed up our future expansion plans with our fresh aircraft orders and have been preparing the ground for the rapid expansion planned over the next 3 years. In the backdrop of this, we are happy to have posted our highest quarterly load factor of 87.8% during this quarter. This clearly demonstrates the increasing consumer acceptance of the SpiceJet value-service offering. We are also pleased that the yields in the market remained stable despite an increase of 11% in the market domestic seat capacity.”

“We remain optimistic about the growth in domestic passenger traffic during the next 12-18 months and expect that the industry will grow in the 14-16% range. SpiceJet will be at the forefront of this growth and will continue to outperform the industry.” he concluded.

Business Update for October – December 2010

Domestic traffic grew at 19% during the quarter over the same period previous year and continued to show increasing inclination towards the low-cost carriers. The market share of LCC’s increased from 39.6% to 45.2% during this period. Yields remained stable, an indication that the industry capacity addition of 11% during the quarter was well absorbed by the market.

SpiceJet outperformed the broad industry yet again with a 33% growth in passenger traffic. It also improved its market share to 13.6% from 12.5% during the same period in the previous year. One of the highlights of this quarter was the commencement of SpiceJet’s international operations with flights on the Delhi-Kathmandu and Chennai-Colombo routes.

Online poll by Smart Travel Asia magazine rates SpiceJet high.

New Delhi, September 07, 2010: SpiceJet, India’s most preferred low fare airline features in the Top 5 list of the ‘Best Budget Airlines in Asia’, in the SmartTravelAsia ‘Best in Travel Poll’, 2010.

This worldwide online survey looks at the most outstanding travel products, as voted by global readers of online magazine SmartTravelAsia.com. This is the third successive year that India’s most preferred airline, SpiceJet, has received this recognition. This year SpiceJet has moved from being the 9th Best Budget Airline in 2009 to becoming the 5th Best Budget Airline in Asia. This year’s SmartTravelAsia consumer poll was conducted between May and July 2010 and involved the participation of genuine travelers with knowledge and passion to make critical judgments.

Receiving the award Kishore Gupta, Director, SpiceJet Limited said, “We are delighted to be ranked among the top 10 Budget Airlines in Asia for the third time in a row and are happy to have our services rated highly by travelers. A focus on customer needs and acting on customer feedback, dedicated team-members at work and a commitment to maintaining a lower cost of operations have helped us to provide safe, reliable and quality air transport to deliver superior service experience.”

SmartTravelAsia is the only dedicated online travel magazine for Asia. It is read by over 1,000,000 visitors annually. The unique online poll is democratic and global. The voting reflects a combination of actual experience, word-of-mouth and an idea of the brand drawn from advertising and editorial in the media, much of which is online.

4th successive profitable quarter for the airline

New Delhi, November 2, 2010: SpiceJet reports a net profit of Rs. 10 crores for the quarter ended September 2010 compared to a loss of Rs. 101 crores same quarter last year.

Highlights for the quarter ended September 30, 2010 vs September 30, 2009

Operational

• 16 % growth in number of passengers.
• 14 % growth of Available Seat Kilometres.
• 15 % growth in number of departures.

Financial

• 40% increase in Revenue from Operations.
• 22% increase in Revenue per Available seat Kilometer.
• 9 % reduction in Non-Fuel Cost per Available Seat Kilometer.
• EBIDTAR margin improved from negative 2.7% to positive 17%.
• EBIDTA margin improved from negative 24.6% to positive 0.6%
• Net Profit of Rs. 10.1 crore compared to a Net Loss of Rs. 101.3 crore.

Business Update for July – September 2010

Domestic industry traffic continued to show a robust growth of 12% over the same period previous year, even though this is a traditionally weak quarter. Low fare carriers continued to grow in proportion and increased their share of the pie from 61% to 71% during this period. Yields moved up and stabilized – an indication that capacity addition of 9% continued to lag behind demand growth.

SpiceJet continued to outperform the broad industry with a 16% growth in passenger traffic. SpiceJet also improved its market share to 12.8% from 12.6% during the same period in the previous year.

During this quarter, SpiceJet commenced flights to Madurai, the 20th destination on their domestic network and opened bookings for their first 2 international flights, viz., Delhi-Kathmandu and Chennai-Colombo.

Neil Mills, Chief Executive Officer, added “We are very proud that we have demonstrated the robustness of our business model by turning in a profitable performance during the traditionally weak July-September quarter. At the end of the quarter, SpiceJet has a positive Net Worth and over Rs. 600 crores cash.

We are very optimistic of our future and had recently placed an order of 30 aircraft with Boeing to ensure that we continue to grow our business. We are in the process of enhancing our fleet in the immediate future and are looking at an aggressive addition to our fleet to double it from the current 22 aircraft by end 2013.”

Regional Connectivity

“As part of our new vision, we believe that the enormous potential in the Indian domestic market can be further tapped by enhancing regional connectivity in the country by focusing on Tier II and Tier III cities. We have selected the Q400 NextGen turboprop aircraft from Bombardier Inc. of Canada to facilitate this objective. The SpiceJet Board has, today, approved an order of upto 30 aircraft with deliveries commencing second quarter 2011 and we are in the process of obtaining the necessary regulatory approvals and documentation for the same and expect to be the first to introduce this superior aircraft type into India. ” Mr. Mills concluded.

The Q400 aircraft is the most technologically advanced turboprop airliner and features a revolutionary Noise and Vibration Suppression (NVS) system, which makes this aircraft the quietest, most vibration-free turboprop in the sky. The Q400 aircraft’s exceptional cruise speed places it on a par with a jet aircraft and its ability to climb as well as a comparable jet allows the Q400 to reach its optimum cruise altitude sooner in order to take full advantage of its high speed capabilities. The Q400 turboprop uses upto 40% less fuel than comparable regional jet or older generation turbo-prop aircraft.

First flight from Delhi to Kathmandu to take-off on October 7, followed by Chennai to Colombo on October 9, 2010.

New Delhi, September 7, 2010: SpiceJet, India’s most preferred low fare airline, announces the commencement of its international operations with its first flights that will connect Delhi and Chennai with Kathmandu and Colombo, ready to take off in four weeks. SpiceJet will flag off its first international flight from Delhi to Kathmandu, Nepal on October 7, 2010. This will be followed shortly by the first flight from Chennai to Colombo, Sri Lanka on October 9, 2010. These flights will mark SpiceJet’s venture into the international skies. Bookings for flights between Delhi and Kathmandu, and Chennai and Colombo are now open.

The base fare on the Chennai-Colombo route begins from Rs. 999 (PSF, UDF & Govt. taxes extra). Base fare for the New Delhi- Kathmandu route begins from Rs. 1499(PSF, UDF, fuel charges & Govt. taxes extra). SpiceJet will fly its New Generation Boeing 737-800 (189 seater aircraft) on its newly added international routes. Fares being offered by SpiceJet on the Chennai-Colombo and Delhi-Kathmandu routes are arguably the most competitive in the industry.

Announcing this development, Kishore Gupta, Director, SpiceJet Limited said, “Since the inception of SpiceJet, our goal has been to identify the needs of our passengers and try to fill gaps in connectivity. Driven by the confidence vested in us by our stakeholders and their encouragement over the past 5 years, we are now excited to begin this new chapter in the success story of SpiceJet.”

“Near neighbours of India; Sri Lanka and Nepal have much in common; fascinating histories, colourful cultures and stunning scenery. Connecting Colombo and Kathmandu from India further strengthens our relationship and enables the passengers to explore these destinations of choice with India’s most preferred airline at the most fascinating fares. We are delighted to welcome Colombo and Kathmandu as a part of our new global network, and look forward to extending our hospitality to our passengers in this new phase of growth,” adds Samyukth Sridharan, Chief Commercial Officer, SpiceJet Limited.

The following table explains the flight schedule* between Chennai and Colombo and Delhi and Kathmandu:

Flight Schedule*:-

*Subject to DGCA approval

** 1-Monday, 2- Tuesday, 3-Wednesday, 4- Thursday, 5-Friday, 6-Saturday, 7 -Sunday

Tickets can be booked through http://www.spicejet.com or Toll Free Reservation at 1800 180 3333 / 0987 180 3333and through Travel Agents.