SPICEJET RESULTS
SpiceJet hopes to break even this year
...confirms option to buy ten more Boeings
BY A CORRESPONDENT
February 17, 2006
Low-budget airline SpiceJet today said that the company, which
launched its airline last year, is expected to break even in March.
SpiceJet CEO Sidhanta Sharma said that the addition of two new planes
to its existing stable of five will drive up revenue, enabling the
airline to post profit.
The SpiceJet CEO was talking on the sidelines of a function in New
Delhi to announce the arrival of the company's Boeing 737-800.
Mr Sharma also said that SpiceJet has confirmed an option to buy ten
more Boeings on top of its January 2005 order of ten planes. SpiceJet
expects a 30% rise in passenger traffic in India in 2006.
A SpiceJet official was quoted as saying that the company has no plans
to divest equity. SpiceJet also said that India has just 117 planes,
and there is scope for immense growth.
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