SpiceJet Q3 Review - Cargo Continues To Shine; Sustained Recovery In Passenger Traffic: Prabhudas Lilladher
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Prabhudas Lilladher Report
SpiceJet Ltd. reported operational numbers in line with market leader with passenger revenue per available seat-kilometer declining by 21.4% while various cost initiatives led to 1% decline in cost per available seat-kilometer.
The company continues to reap benefits from its cargo segment which grew by 36% QoQ thereby reducing cash burn. Yields were under pressure in Q3 given -
- new strain of virus slowing demand recovery
- capacity addition in the industry at a short notice post easing of restrictions.
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