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SpiceJet's Deepening Crisis: Rs 621 Crore Loss Amid Fleet Grounding

SpiceJet's financial troubles deepened with a wider net loss of Rs 621 crore in the second quarter. The airline saw its revenue slip by 13% to Rs 792 crore amid ongoing operational challenges. Management attributed the poor performance to costs from grounded aircraft and airspace restrictions. However, the company remains optimistic that its fleet expansion strategy will yield better results in coming quarters.

Key Points: SpiceJet Q2 FY26 Net Loss Widens to Rs 621 Crore

  • Consolidated net loss widened to Rs 621 crore from Rs 458 crore year-on-year
  • Revenue from operations declined 13% to Rs 792 crore in Q2 FY26
  • Operating loss stood at Rs 297 crore with EBITDAR loss at Rs 203.80 crore
  • Passenger load factor remained strong at 84.3% despite financial challenges
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SpiceJet's net loss widens to Rs 621 crore in Q2 FY26, revenue slips 13 pc

SpiceJet reports Rs 621 crore net loss in Q2 FY26 with 13% revenue decline amid grounded fleet costs and airspace restrictions, despite strong passenger load factor.

SpiceJet's net loss widens to Rs 621 crore in Q2 FY26, revenue slips 13 pc
"While the results reflect short-term costs related to fleet revival and expansion, these are strategic investments - Ajay Singh, SpiceJet CMD"

New Delhi, Nov 12

Low-cost carrier SpiceJet on Wednesday reported a wider consolidated net loss of Rs 621 crore for the quarter ended September 30, 2025, compared with a loss of Rs 458 crore in an year-ago quarter.

Consolidated revenue from operations of the airline slipped 13 per cent to Rs 792 crore in the quarter from Rs 915 crore in Q2FY25, according to an exchange filing.

The results for the seasonally weak quarter were primarily driven by impact of recalibrating dollar based future obligations along with carrying cost of grounded fleet and additional expenses incurred towards RTS.

Continued airspace restrictions negatively impacted operations and resulted in a sharp escalation in operating costs, further weighing on the quarter's performance, according to the airlines.

The airline also recorded an operating loss of Rs 297 crore in Q2 FY26. On an EBITDAR (ex‑forex) basis, the airline posted a loss of Rs 203.80 crore, compared to Rs 58.87 crore loss a year earlier.

"While the results reflect short-term costs related to fleet revival and expansion, these are strategic investments that will start yielding results from the current quarter onward," said Ajay Singh, Chairman and Managing Director, SpiceJet.

"With aircraft additions already underway and our network expanding rapidly, SpiceJet is now on a clear trajectory towards stronger operational and positive financial performance in the second half of the year," Singh added.

Passenger revenue per available seat kilometre (PAX RASK) stood at Rs 4.04, up from Rs 3.91 in Q2 FY25, while passenger load factor (PLF) remained robust at 84.3 per cent, the airline said in a release.

"Passenger Load Factor (PLF) remained robust at 84.3 per cent, underscoring SpiceJet's strong brand affinity and customer focus," it added.

- IANS

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Reader Comments

R
Rohit P
The management keeps talking about "strategic investments" but when will we see actual results? As a frequent flyer, I've noticed service quality declining while fares are increasing. They need to focus on operational efficiency rather than just expansion.
A
Ananya R
84.3% load factor is actually impressive despite the losses. Shows people still prefer SpiceJet. Maybe the airline needs better financial management rather than operational changes.
M
Michael C
The dollar-based obligations are really hurting Indian airlines. With rupee depreciation, this becomes a double whammy. Hope the government provides some relief to the aviation sector.
S
Siddharth J
Just flew SpiceJet last week from Delhi to Mumbai. The flight was packed but the service was good. Hope they survive this rough patch. We need competition in Indian skies to keep fares reasonable.
K
Kavya N
The airspace restrictions mentioned here are a major issue that's affecting all airlines. This is something beyond SpiceJet's control and needs government intervention. 🤔

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