SpiceJet slipped into the red in the June quarter as grounded aircraft, restricted air routes and weaker travel sentiment dragged down earnings along with decline in freight business.
The carrier reported a consolidated net loss of Rs 234 crore for the three months ended June 30, against a profit of Rs 158.2 crore in the year-ago period and Rs 341.9 crore in the March quarter.
Revenue from operations fell 34% year-on-year to Rs 1,120.2 crore from Rs 1,708.2 crore and dropped 24% sequentially from Rs 1,465.6 crore. The decline in revenue outpaced cost savings, with total expenses shrinking 25% to Rs 1,435 crore compared with Rs 1,919.6 crore a year earlier and Rs 1,616.3 crore in March 2025. At the operating level, EBITDA came in negative at Rs 18 crore, compared with a positive Rs 402 crore in the same quarter last year.
The airline attributed the weak performance to fleet and operational constraints. "Non-operation of certain part of the entire fleet for awaited maintenance coupled with airspace restrictions owing to geopolitical tensions affected the profitability of the company during the quarter," it said in its filing. It also pointed to subdued travel demand after a "tragic accident in [the] Indian aviation sector" that dampened passenger sentiment. In addition, "the delay in returning grounded aircraft to service, owing to global supply chain disruptions and engine overhaul challenges, further compounded the situation", the company said.
CMD Ajay Singh said the quarter reflected "extraordinary challenges faced by the aviation industry, including geopolitical turbulence, restricted air routes and supply chain disruptions."
Segment revenues showed declines across businesses. The air transport services division earned Rs 1,093.7 crore, down 33% from Rs 1,626.9 crore a year earlier. Freighter and logistics revenue dropped 66% to Rs 26.5 crore from Rs 78.8 crore, while other businesses posted a loss of Rs 7.2 crore.
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The carrier reported a consolidated net loss of Rs 234 crore for the three months ended June 30, against a profit of Rs 158.2 crore in the year-ago period and Rs 341.9 crore in the March quarter.
Revenue from operations fell 34% year-on-year to Rs 1,120.2 crore from Rs 1,708.2 crore and dropped 24% sequentially from Rs 1,465.6 crore. The decline in revenue outpaced cost savings, with total expenses shrinking 25% to Rs 1,435 crore compared with Rs 1,919.6 crore a year earlier and Rs 1,616.3 crore in March 2025. At the operating level, EBITDA came in negative at Rs 18 crore, compared with a positive Rs 402 crore in the same quarter last year.
The airline attributed the weak performance to fleet and operational constraints. "Non-operation of certain part of the entire fleet for awaited maintenance coupled with airspace restrictions owing to geopolitical tensions affected the profitability of the company during the quarter," it said in its filing. It also pointed to subdued travel demand after a "tragic accident in [the] Indian aviation sector" that dampened passenger sentiment. In addition, "the delay in returning grounded aircraft to service, owing to global supply chain disruptions and engine overhaul challenges, further compounded the situation", the company said.
CMD Ajay Singh said the quarter reflected "extraordinary challenges faced by the aviation industry, including geopolitical turbulence, restricted air routes and supply chain disruptions."
Segment revenues showed declines across businesses. The air transport services division earned Rs 1,093.7 crore, down 33% from Rs 1,626.9 crore a year earlier. Freighter and logistics revenue dropped 66% to Rs 26.5 crore from Rs 78.8 crore, while other businesses posted a loss of Rs 7.2 crore.
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