SPICEJET’s Strategy

Spice Jet’s mission is to become India’s preferred low-cost airline, delivering the lowest air fares with the
highest consumer value, to price sensitive consumers. They hope they will fulfill everyone’s dream of
flying!

With India's economic and business growth, the percentage of traveling population is growing. More and
more Indians are traveling for both business and pleasure and everyone needs to save both time and
money. SpiceJet's vision is to address that and ensure that flying is for everyone.

How to fulfill the mission and vision?

The power to fly for everyone

With a dynamic fare structure, SpiceJet offers fares that are affordable and significantly lower than most
airlines. With contemporary interiors, modern graphics and vibrant colours, SpiceJet is very much like
today’s traveler - practical yet stylish. A SpiceJetter will feel ‘this is the smart, international way to travel;
I've made the smart choice’. SpiceJet is committed to make sure you feel good at the end of a flight,
arriving at your destination - fresh and on time.

The power of technology

SpiceJet's new generation fleet of aircraft is backed by cutting edge technology and infrastructure to
ensure the highest standards in operating efficiency. With maintenance support by KLM and state of the
art technology from world leaders like Star Navigation, Russell Adams and Tech Log there will be no
compromise on safety, reliability or on-time travel. The company has tied up with Navitaire the world’s
renowned low-cost support for reservations and revenue management. E-booking and e-ticketing facilities
are available online along with tele-booking.

The power of performance.

From aircraft to crew and ground staff the focus is on performance. Each SpiceJet employee is groomed
to be smart, friendly, efficient and well-informed, ensuring that any interaction will make you feel
welcome and looked after. Experienced pilots, well-trained cabin crew will make every flight a
comfortable one. The philosophy is no-frills but high-performance.
The power of safety

SpiceJet invests heavily in safety, impeccable maintenance and a high level of expertise. Experienced
pilots, engineers and maintenance crew go through rigorous training and are hand-picked for their
technical knowledge and expertise. So you can rest assured that there is no cut-back in this key area of
modern day flying.

The power behind the power to fly

SpiceJet's key management personnel are all senior, seasoned professionals and have significant
international experience in both launching and managing low-cost airlines. With thousands of cumulative
man hours in the industry, the management is committed to bring to customers in India all the benefits of
the global revolution in the skies. SpiceJet aims to make travel comfortable, affordable and refreshingly
efficient experience for all.

CODE OF CONDUCT FOR BOARD MEMBERS & SENIOR MANAGEMENT

Applicability

This Code of Conduct is applicable to the Members of the Board of Directors of the Company and Senior
Management, defined as members of core management team excluding Board of Directors but including
all functional heads (hereinafter collectively referred to as Senior Officers).

The Senior Officers shall confirm that they have received, read and understood the Code of Conduct, and
agree to comply with the Code annually in the format specified.

The Code

Following are the covenants of the Code of Conduct for board members and senior management

1. Honest and Ethical Conduct: Senior Officers are expected to comply with all applicable laws,
rules and regulations and all applicable policies and procedures adopted by the Company with the
highest standard of personal and professional integrity, honesty and ethical conduct.
2. Confidential Information: Senior Officers have to secure, preserve, safeguard and use
discreetly, confidential information in the best interest of the Company. They should not divulge
 or communicate such information to third parties except when authorized for the business
reasons.
3. Related Parties: Senior Officers should avoid conducting company business in any significant
way with a relative (as defined in the Companies Act, 1956), or with a business in which a close
relative is associated, without intimation to the Board of Directors.
4. Exclusivity: Senior Officers are expected to devote their full attention with integrity and honesty
to the business interests of the Company. They are prohibited from engaging in any activity that
interferes with his proper discharge of responsibilities of the Company, or is in conflict with or
prejudicial to the interests of the Company.
5. Gratuities and Gifts: The Company’s policy prohibits the receipt of gifts and gratuities,
particularly from individuals or firms with which the Company has business dealings. The only
exception is the receipt of complementary items that carry Company’s name printed or embossed
on it so as to clearly establish that it is a sales promotional item. To the extent possible all such
gifts or hospitalities must be declined so as to ensure that Senior Officers are not put in an
obligatory position vis-à-vis the company customer, supplier or trader.
6. Protection and Proper Use of Company's Assets: Senior Officers are responsible for effective
control and appropriate use of all Company’s resources entrusted to them in the official discharge
of their duty. Company's assets should be used only for legitimate business purposes.
7. Insider Trading: Senior Officers should abide by company’s insider trading policy in
compliance with the SEBI (Prohibition of Insider Trading) Regulations 1992, as adopted by the
Board of Directors of the Company.
8. Anti Harassment Policy: The Senior Officers should adhere to and facilitate effective
functioning of the Company’s mechanism for redressal of complaints of harassment of any nature
as per laid down policies and principles.
9. Compliance with the Code: Any Senior Officer who knows or suspect violation of applicable
laws, rules or regulations or this Code of Conduct, must immediately report such information to
the HR Department. This will help safeguard company’s assets and reputation.

The Board of Directors of the Company shall designate appropriate person to determine appropriate
action incase of violation of the Code.

Company’s policy is to provide full, fair, accurate, timely and understandable disclosures in reports and
documents that they file with, or submit to any Public Authority and in their public communications.
Senior Officers must ensure that they and other in the Company comply with company’s disclosure
controls and procedures.

SpiceJet is India's second most preferred Low Fare Airline, delivering the lowest air fares with the
highest consumer value. They operate 141 flights daily to 19 cities viz. Agartala, Ahmedabad, Bangalore,
Bagdogra, Chennai, Coimbatore, Delhi, Guwahati, Goa, Hyderabad, Jammu, Jaipur, Kochi, Kolkata,
Mumbai, Pune, Srinagar, Varanasi and Visakhapatnam. Their on-time performance is amongst the best in
India and coupled with a Technical Dispatch Reliability of 99.6%, they can rightly claim to have the least
number of flight cancellations. SpiceJet's new generation fleet of 19 Boeing 737-800 / 737-900ER aircraft
are backed by cutting edge technology and infrastructure to ensure the highest standards in safety and
operating efficiency.

Awards:

• Best Low Cost Airline India - Outlook Traveller, India, Feb 2008 & 2010
• Best Website Award - World Low Cost Airlines Asia Pacific Conference, Singapore 2010
• Best Low Fare Airline in India – Hindustan Times – MaRS survey, December 2009
• Best Employer Brand Award - For our employee best practices, from The Employer Branding
Institute, Hyderabad, December 2009
• World Travel Market Award - For our multi-channel approach in distribution, from the World
Travel Market, London, November 2009
• Among Smart Travel Asia's Top 10 Best Budget Airlines in Asia, Hong Kong, August 2008 &
September 2009
• National Award (ICWAI) for excellence in Cost Management, New Delhi, March 2009
• CIO 100 Award for IT efforts for customer satisfaction and business growth, India, 2007, 2008 &
2009
• 2008 Frost & Sullivan Indian Commercial Aviation - Emerging Company of the Year Award,
London, Nov 2008
• TAFI – Abacus's Best Low Cost Airline Malaysia, Sept 2007

Mandeep Baweja, Head- Human Resources said, “The award is a reflection of our value system. We are
focused on providing safe, reliable and quality service to our customers and an enriching and fun work
environment for our employees. Our philosophy has always been that happy employees create happy
customers and consequently, a healthy business. It is this positive attitude of our people and the support
we receive from our customers that makes Spicejet a winning organization.”
Number of employee: 2500
Employees remuneration and benefits Rs 1,550.78 For the Year Ended Year Ended March
31,2009 (Rs. Millions) and Rs.1,403.71 For the March 31,2008 (Rs. Millions)

Details of EMPLOYEE REMUNERATION AND BENEFITS In 2009 2008

Salaries, wages, bonus and allowances 1,348.74 1,222.30

Contribution to provident and other funds 58.96 55.94
Recruitment 4.61 7.57
Training cost 56.10 49.67
Staff welfare 55.07 42.22
Employee stock option cost 27.30 26.01
Total (Rs. Millions) 1,550.78 1,403.71

SpiceJet Announces First Quarter Results New Delhi, July 30, 2010: SpiceJet, India’s most
preferred airline, has announced its first quarter results for the current financial year. SpiceJet
reports a net profit of Rs. 55.22 crore for the quarter ended June 2010, as against Rs. 26.34 crores
for the same quarter last year. Highlights for the Quarter Ended June 30, 2010 v/s June 30, 2009

Financial performance for the quarter:

• 35% increase in Revenue from Operations.

• 24% increase in Revenue per ASK from 2.41 to 2.99
• 4% increase in Revenue per Passenger (From Rs. 3270 to Rs. 3428)
• EBIDTA improved from Rs. 21 crores to Rs. 59 Crores
• EBIDTA margin improved from 4.0% to 8.3%
• EBIDTAR improved from Rs. 121 crores to Rs. 154 crores
• Net Profit after Tax of Rs. 55.22 crores compared to Rs. 26.34 crores

Operational performance for the quarter

• 29% growth in number of passengers

• 9% growth in available seat Kilometers
• 11% growth in number of departures
 • Increase in Load factor from 76% to 88%

Business Update for the quarter The outlook for the domestic aviation sector continued to
show signs of improvement with higher numbers for passenger load factor and traffic. The total
domestic passenger traffic for the quarter ending June 30, 2010 stands strong at 1.35 crores as
against 1.09 crores for the same quarter last year, a growth of 23%. The domestic capacity
addition during this period was 8% which indicated shrinkage in the demand supply gap. This
further led to a healthy industry load factor of around 81%, the best recorded load factor in the
last 5 years. SpiceJet continued to outperform the industry with a 29% growth in passenger
traffic (as compared to industry growth rate of 23%) and an 88% seat factor (in comparison to
industry seat factor of 81%). This quarter also saw SpiceJet taking delivery of their 21st aircraft
and commencing operations to Agartala with daily flights from Kolkata and Guwahati. SpiceJet
also increased frequencies on some of its trunk routes with the addition of a fourth daily flight on
the Hyderabad-Delhi-Hyderabad and the Delhi-Chennai-Delhi routes; and a second daily flight
on the Kolkata-Guwahati-Kolkata, Mumbai-Kolkata-Mumbai, and the Hyderabad-Mumbai-
Hyderabad routes. Mr. Kishore Gupta, Director, SpiceJet said "We are very pleased to have
begun this financial year with profits in four out of the last five quarters. Having posted our first
full-year profit in March 2010, we are very optimistic about the future. Our market share has
improved from an average of 12.4% during April-June ‘09 to 13% during the current quarter."
SpiceJet completed its five years of successful domestic operations in May 2010, and has
become eligible for international operations. The airline is expected to begin its international
operations by September 2010 and has already received permission to fly to Dhaka, Kathmandu
and Malé (Maldives).