May 30, 2012
Indian low-cost carrier Spicejet said its net loss for the January-March quarter widened more than four-fold to INR2.49 billion rupees (USD$44.61 million), as fuel and airport charges swelled in the country's fiercely competitive market.
The No. 3 Indian carrier by market share had incurred losses of INR586 million rupees in the year-ago period.
Spicejet said there was some easing in costs in recent months, and sees lower fuel costs once the company starts importing jet fuel directly.
