However, in the past one year, the stock has underperformed the market, by falling 30 percent, as compared to nine percent rally in the Sensex. Also, despite the jump in passenger traffic, business continued to be impacted by high fuel prices and depreciating rupee.
"Despite a big jump in passenger traffic, business has continued to be impacted by high fuel prices and depreciating rupee. There are renewed signs of recovery and some very positive developments and restructuring initiatives in the immediate offing that would significantly strengthen and deleverage the company's balance sheet", the management said.
The airline launched 15 new routes and operated 254 charter flights in the quarter. Ajay Singh, Chairman and Managing Director, SpiceJet, said: "Air travel has come roaring back touching newer heights and giving a glimpse of the huge potential of the Indian aviation market and we look forward to a robust and exciting 2023."
Denne historien er fra March 2023-utgaven av Cruising Heights.
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Denne historien er fra March 2023-utgaven av Cruising Heights.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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