Revenue from operations declined 34.3% on year to ₹1,120 crore against ₹1,708 crore in Q1FY25.
According to the statement, the company’s net worth rose to ₹446 crore in the latest June quarter compared to a deficit of ₹2,398 crore in the year-ago period. In July, SpiceJet had a domestic market share of 2%, as per official data.
Why the poor show?
In a statement, SpiceJet said the results were significantly impacted by the geopolitical situation with a neighbouring country and airspace restrictions in key markets, which led to subdued leisure travel demand.
“The delay in returning grounded aircraft to service, owing to global supply chain disruptions and engine overhaul challenges, further compounded the situation,” it added.
“This quarter’s results reflect the extraordinary challenges faced by the aviation industry, including geopolitical turbulence, restricted air routes, and supply chain disruptions,” SpiceJet Chairman and Managing Director Ajay Singh said. He also said the airline is taking decisive steps to enhance fleet reliability, reduce costs, and expand the network.
Among other efforts, the airline is having discussions for taking aircraft on damp-lease arrangements to strengthen its network reliability. Generally, in a damp lease, the lessor provides the aircraft, along with the maintenance, but not the crew and insurance.
The results came after the close of the market hours. Shares of SpiceJet Ltd ended at ₹34.45, down by ₹0.56 or 1.60%, on the BSE today (September 5).
(Edited by : Shoma Bhattacharjee)
