Airline Stock Under Rs 50 In Green As Company Successfully Renews Prestigious IATA IOSA Certification
The stock’s 52-week high is Rs 79.90 per share and its 52-week low is Rs 39.91 per share.
On Friday, shares of SPICEJET LTD surged 2.83 per cent to Rs 46.46 per share from its previous closing of Rs 45.18 per share. The stock’s 52-week high is Rs 79.90 per share and its 52-week low is Rs 39.91 per share.
SpiceJet has achieved a significant milestone with the renewal of its IATA Operational Safety Audit (IOSA) certification, validating its dedication to superior operational safety. This prestigious certification, a globally recognized standard, underscores the airline's persistent commitment to upholding the most stringent safety and operational protocols. The renewed certification, valid until March 2027, signifies SpiceJet's ongoing adherence to international aviation best practices.
The rigorous IOSA audit, administered by the International Air Transport Association (IATA), involves a meticulous evaluation of an airline's operational management and control systems. SpiceJet successfully navigated this comprehensive audit, which encompassed a remote documentation review and an on-site assessment conducted from December 9 to 12, 2024. A team of five international auditors thoroughly examined the airline’s operational processes, emergency response protocols, and risk-based maturity framework. This achievement not only reinforces SpiceJet’s compliance with global safety benchmarks but also enhances its reputation, improves operational efficiency, increases customer confidence, and strengthens its competitive position within the aviation sector.
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SpiceJet is India's favourite airline that has made flying affordable for more Indians than ever before. SpiceJet is an IATA-IOSA certified airline that operates a fleet of Boeing 737s & Q-400s and is one of the country's largest regional players operating multiple daily flights under UDAN or the Regional Connectivity Scheme. The majority of the airline's fleet offers SpiceMax, the most spacious economy-class seating in India.
Despite a 35 per cent year-over-year (YoY) drop in sales to Rs 1,237.0 crore, compared to Rs 1,914.4 crore in Q3 FY23e, the company demonstrated a significant financial recovery; EBITDA losses narrowed by 21 per cent YoY to Rs -188 crore, and net profit turned positive at Rs 25 crore, a 108 per cent YoY improvement. This positive shift, alongside a 104 per cent increase in EPS to Rs 0.19, was largely attributed to a 72.3 per cent surge in other income to Rs 417.1 crore, which compensated for the operational revenue decline.
In its annual results, the company reported net sales of Rs 7,085 crore, an operating loss of Rs 644 and a net loss of Rs 424 crore in FY24. The company has a market cap of over Rs 5,900 crore.
Disclaimer: The article is for informational purposes only and not investment advice.