Budget carrier SpiceJet Ltd hopes to break-even by March 2008, and eyes a fleet of 31 planes by 2011, senior executives said on Wednesday.
SpiceJet swung to a net profit in April-June quarter, but posted a net loss in the July-Sept quarter on account of the lean monsoon season. Executive Chairman Siddhant Sharma said the third quarter would be profitable, helped by festivals and holidays.
"We are on track to break even, but higher oil prices continue to be a cause of concern," Sharma told reporters after inducting a new plane into the firm's fleet.
Yields would rise by 200 to 300 rupees per seat at Spice in the October-December quarter, he said.Sharma forecast airline fares rising by 5 to 7 percent across the industry, including Spice.
14/11/07 Reuters India
Friday, November 16, 2007