The price of aviation turbine fuel (ATF), or jet fuel, at Delhi was cut by Rs 4,987.7 per kilolitre, or 7.3 percent, to Rs 62,537.93 per kl, oil companies announced today.
Sanjiv Kapoor, COO, SpiceJet is hopeful of further price cuts in the aviation turbine fuel (ATF) being passed through going forward. However, he says any price cut has been a welcome one and eases the costs pressures. The company sees an impact of Rs 320 crore from this cut.
According to him the ATF prices in India are still significantly high, 40-60 percent higher than rest of the world. Globally the prices have dropped 17 percent from June, whereas in India only 10 percent has been passed through so far.
The price of aviation turbine fuel (ATF), or jet fuel, at Delhi was cut by Rs 4,987.7 per kilolitre, or 7.3 percent, to Rs 62,537.93 per kl, oil companies announced today.
The slew of festive season discounts offered by the airlines has led to improved revenues, and the load factor too improved to 86% in September, said Kapoor.
Below is the transcript of Sanjiv Kapoor's interview to CNBC-TV18's Latha Venkatesh and Sonia Shenoy
Latha: Is it good news at least of ATF price cut or will you have to pass it on?
A: It is good news certainly for the airlines, aviation fuel prices in India have been above 40-60 percent higher than rest of the world, combination of both the base price and taxes. So certainly a 7 percent plus 3 percent reduction that was done earlier, total 10 percent reduction is fantastic for our cost situation which will give us relief.
However, if people are expecting that to be passed on to customers then we already have the lowest fares on average in the world and this is just relief for the airlines on the cost side which was much welcome and much needed.
SpiceJet stock price
On November 03, 2014, at 11:12 hrs SpiceJet was quoting at Rs 14.80, up Rs 0.87, or 6.25 percent. The 52-week high of the share was Rs 22.20 and the 52-week low was Rs 11.10.
The latest book value of the company is Rs -19.67 per share. At current value, the price-to-book value of the company was -0.75.
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