SpiceJet attributed its return to the black to strong passenger demand, enhanced operational efficiencies, and improved yield management
'Our plan to bring 10 aircraft back into service by mid-April is a reflection of SpiceJet's unwavering commitment to its growth and operational excellence,' says SpiceJet CMD
The settlement will generate savings to the tune of Rs 567 crore for the airline.
Liquidity constraints continue at SpiceJet and it has delayed salaries, TDS payments, EPFO deposits to many of its employees due to lack of funds, reported CNBC-TV18 on Feb 14
The DGCA found that SpiceJet failed to establish a safe, efficient and reliable air service.
SpiceJet has reported three safety incidents in the last 24 hours and at least the eighth incident of technical malfunction happening on aircraft just within the last 18 days.
This was the first profit for the company after seven consecutive quarterly losses.
The amount is an interest payout of the sum Kalanithi Maran, the former SpiceJet promoter, and his KAL Airways won as refund from the low-cost airline in 2018. Final decision on three-year-old share transfer dispute expected in November.
With the aviation regulator unbundling the check-in baggage facility, airlines are gearing up to charge passengers for every bag they check-in, and SpiceJet has been first off the block.