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SpiceJet continues making investments in Data and Artificial Intelligence to shore up the profitablity. An example to this is the profitability dashboard that monitors the cost and revenue drivers for each flight on a real-time basis, thereby providing useful information to the finance and planning teams.
The airlines has also created a big data platform cutting down processing time from several days to minutes. This has enabled it to work on newer technologies based on processing large amounts of Black Box data captured for each flight. This will enhance safety for all SpiceJet flights by monitoring the pilot performance and flagging incidents that require additional training, thereby preventing any safety incident, says the company’s annual report for 2021-22.
Pilot docs
A product called ‘pilot docs’ was launched after Directorate General of Civil Aviation’s approval digitising pilot documentation and updating it on tablets. The company’s version of e-tech log has been submitted to the DGCA for approval. This would replace the traditional paper tech logs with electronic forms and ensuring data availability on a real-time basis.
Web DCS is a product that replaces the traditional desktop-installed product at airports with a browser-based product. This obviates the need to install a new product at every airport in case of enhancements and ensures availability of newer features/functions to the customers, the report said.
Revamp process
“We have received the shareholders’ approval for the transfer of our logistics business to SpiceXpress and the process of hiving off the cargo and logistics platform will be completed soon,” Ajay Singh, Chairman & Managing Director, SpiceJet said in the report.
The airline’s logistics business has been valued at ₹25,557.7 million (₹ 2,555 crore) and the transfer of business under this process will help significantly strengthen the balance sheet and wipe out the negative net worth of the business. “We expect to see improvement in operations and restructuring benefits will be visible starting Q3 FY2023,” Singh said.
SpiceJet’s cargo network spans over 53 domestic and 12 international destinations.
SpiceJet has engaged with investment bankers to raise up to $200 million to achieve its future plans. Additionally, the enhancement of the Emergency Credit Line Guarantee Scheme limit to ₹15,000 million (₹1,500 crore) by the Government will go a long way in providing the much-needed stability to the sector. The infusion of additional funds will help SpiceJet normalise its obligations, unground its fleet and induct new planes. This will rejuvenate the airline as the newer induction with younger fleet will increase operational efficiency and support cash-positive operations.
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