Mumbai- Low-cost carrier SpiceJet reported a consolidated net loss of ₹234 crore for the April–June quarter (Q1 FY26), slipping into the red after posting a profit of ₹158 crore in the same quarter last year.
According to a stock exchange filing, revenues from operations fell 34.4 per cent year-on-year to ₹1,120 crore from ₹1,708 crore. The airline attributed the loss to costs linked with grounded aircraft and expenses incurred in bringing them back into service. It also cited geopolitical tensions and airspace restrictions that dented leisure travel demand.
Despite the setback, SpiceJet said its financial position has strengthened, with net worth turning positive at ₹446 crore, compared to a deficit of ₹2,398 crore in Q1 FY25. Operational performance showed a passenger load factor of 86 per cent and revenue per available seat kilometre at ₹4.74.
The airline finalised a restructuring deal with Carlyle Aviation for lease obligations worth $121.18 million and signed lease agreements for 10 Boeing 737 aircraft to be inducted from October. Talks are also underway for further fleet additions this winter.
Chairman and MD Ajay Singh acknowledged the “extraordinary challenges” faced by the aviation industry, including supply chain disruptions and restricted routes, but expressed confidence in recovery supported by India’s fast-growing aviation and tourism markets.
SpiceJet’s results were declared after market hours on Friday. Earlier, its shares closed nearly 2 per cent lower at ₹34.45. The stock has slipped over 6 per cent in the past week but remains up 1 per cent over the past month.
WIth inputs from IANS