Someone's pain is someone else's gain. One would assume that the fall of SpiceJet brought Schadenfreude moments for its arch-rivals GoAir and IndiGo.
It is believed that these airlines are likely to take away the passenger traffic from SpiceJet that would translate into higher market share, better revenues and, in a way, increase profits.
However, whatever gains GoAir and IndiGo make would be an icing on the cake as both airlines are already profitable.
The success story of IndiGo is well documented but its closest competitor GoAir's profitable run is still new. The Mumbai-based GoAir, which is promoted by biscuit-to-textile major Wadia Group, is making net profits for the past two financial years - Rs 104 crore in 2012/13 and over Rs 5 crore in 2013/14.
The airline's CEO Giorgio De Roni claims that net profit for the current year will be significantly higher than last year.
10/01/15 Manu Kaushik/Business Today
It is believed that these airlines are likely to take away the passenger traffic from SpiceJet that would translate into higher market share, better revenues and, in a way, increase profits.
However, whatever gains GoAir and IndiGo make would be an icing on the cake as both airlines are already profitable.
The success story of IndiGo is well documented but its closest competitor GoAir's profitable run is still new. The Mumbai-based GoAir, which is promoted by biscuit-to-textile major Wadia Group, is making net profits for the past two financial years - Rs 104 crore in 2012/13 and over Rs 5 crore in 2013/14.
The airline's CEO Giorgio De Roni claims that net profit for the current year will be significantly higher than last year.
10/01/15 Manu Kaushik/Business Today
No comments:
Post a Comment