970x90 - Montreal - Desktop Sample
Order HereIndian low-cost carrier (LCC) SpiceJet is reportedly in discussions with Singapore-based Tiger Airways for a possible equity stake sale. “SpiceJet and Tiger Airways have already held two rounds of talks for a possible equity deal,” Indian newswire PTI said Tuesday.
The report comes just weeks after the government gave the go-ahead to Etihad Airways to pick up a 24% stake in Jet Airways. Cash-strapped Indian carriers are now bullish about forging strategic relationships with foreign airlines. Most see it as an opportunity to re-capitalize operations.
SpiceJet officials denied comment on the speculation, although in March Tiger Airways’ commercial director said the airline was looking at opportunities for a strategic partnership in India. A codeshare between the two airlines could be the first step.
SpiceJet reported a 10% fall in its net profits for the April to June 2013 quarter. Profits fell to Rs 500 million ($8.3 million) compared to the same period last year, even though revenues grew 16% to Rs 17,040 million.
In a statement to the stock exchange, SpiceJet management said, “Fuel cost as a proportion fell to 43% of the total revenue in the current (June) quarter as against 46% in the comparable quarter for the previous year, mainly due to better realizations from our overseas routes that now make up almost 11% of revenues. However, currency depreciation and higher crude prices continue to exert pressure on margins.”
The airline also informed the exchange it had accepted the resignation of CEO Neil Mills. Mills had joined the Indian carrier from flydubai in 2010.
SpiceJet is India’s second largest LCC, with primarily domestic operations. It has a small international footprint, with operations to six cities in South Asia and the Middle East. It is backed by south Indian media baron Kalanithi Maran, and operates a fleet of 52 aircraft—Boeing 737s and Bombardier Q400s.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.
970x250 - Melbourne - Desktop Sample
Order Here300x250 - Zurich - Desktop Sample
Order Here300x300 - Rome - Desktop Sample
Order Here300x600 - Paris - Desktop Sample
Order Here468x150 - Cape Town - Phone Sample
Order HereIndian low-cost carrier (LCC) SpiceJet is reportedly in discussions with Singapore-based Tiger Airways for a possible equity stake sale. “SpiceJet and Tiger Airways have already held two rounds of talks for a possible equity deal,” Indian newswire PTI said Tuesday.
The report comes just weeks after the government gave the go-ahead to Etihad Airways to pick up a 24% stake in Jet Airways. Cash-strapped Indian carriers are now bullish about forging strategic relationships with foreign airlines. Most see it as an opportunity to re-capitalize operations.
SpiceJet officials denied comment on the speculation, although in March Tiger Airways’ commercial director said the airline was looking at opportunities for a strategic partnership in India. A codeshare between the two airlines could be the first step.
SpiceJet reported a 10% fall in its net profits for the April to June 2013 quarter. Profits fell to Rs 500 million ($8.3 million) compared to the same period last year, even though revenues grew 16% to Rs 17,040 million.
In a statement to the stock exchange, SpiceJet management said, “Fuel cost as a proportion fell to 43% of the total revenue in the current (June) quarter as against 46% in the comparable quarter for the previous year, mainly due to better realizations from our overseas routes that now make up almost 11% of revenues. However, currency depreciation and higher crude prices continue to exert pressure on margins.”
The airline also informed the exchange it had accepted the resignation of CEO Neil Mills. Mills had joined the Indian carrier from flydubai in 2010.
SpiceJet is India’s second largest LCC, with primarily domestic operations. It has a small international footprint, with operations to six cities in South Asia and the Middle East. It is backed by south Indian media baron Kalanithi Maran, and operates a fleet of 52 aircraft—Boeing 737s and Bombardier Q400s.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.
970x250 - Melbourne - Desktop Sample
Order Here728x90 - Cape Town - Tablet Sample
Order HereIndian low-cost carrier (LCC) SpiceJet is reportedly in discussions with Singapore-based Tiger Airways for a possible equity stake sale. “SpiceJet and Tiger Airways have already held two rounds of talks for a possible equity deal,” Indian newswire PTI said Tuesday.
The report comes just weeks after the government gave the go-ahead to Etihad Airways to pick up a 24% stake in Jet Airways. Cash-strapped Indian carriers are now bullish about forging strategic relationships with foreign airlines. Most see it as an opportunity to re-capitalize operations.
SpiceJet officials denied comment on the speculation, although in March Tiger Airways’ commercial director said the airline was looking at opportunities for a strategic partnership in India. A codeshare between the two airlines could be the first step.
SpiceJet reported a 10% fall in its net profits for the April to June 2013 quarter. Profits fell to Rs 500 million ($8.3 million) compared to the same period last year, even though revenues grew 16% to Rs 17,040 million.
In a statement to the stock exchange, SpiceJet management said, “Fuel cost as a proportion fell to 43% of the total revenue in the current (June) quarter as against 46% in the comparable quarter for the previous year, mainly due to better realizations from our overseas routes that now make up almost 11% of revenues. However, currency depreciation and higher crude prices continue to exert pressure on margins.”
The airline also informed the exchange it had accepted the resignation of CEO Neil Mills. Mills had joined the Indian carrier from flydubai in 2010.
SpiceJet is India’s second largest LCC, with primarily domestic operations. It has a small international footprint, with operations to six cities in South Asia and the Middle East. It is backed by south Indian media baron Kalanithi Maran, and operates a fleet of 52 aircraft—Boeing 737s and Bombardier Q400s.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.