SpiceJet reports net loss of Rs 112.6 crore for September quarter

Budget carrier SpiceJet on Wednesday reported a net loss of Rs 112.6 crore for the quarter ended September.

 

It had posted a net loss of Rs 462.6 crore for the corresponding period of the previous financial year.

 

The airline's total income stood at Rs 1,305 crore in the second quarter of 2020-21, significantly lower than Rs 3,074 crore in the year-ago period. Total expenses also reduced to Rs 1,418 crore as compared to Rs 3,536 crore earlier, the airline said.

 

“Despite Covid-19 continuing to pose serious operating challenges we have managed to significantly cut down our net loss in Q2 much like the previous quarter,” SpiceJet Chairman and Managing Director Ajay Singh said.

 

In Q1 of 2020-21, SpiceJet had posted a net loss of Rs 600.5 crore owing to the suspension of flight operations due to the coronavirus-induced lockdown.

 

India’s largest airline IndiGo has incurred net loss of Rs 2,884 crore and Rs 1,194 crore in Q1 and Q2, respectively, this fiscal.

 

Scheduled domestic flight services were suspended in India from March 25 to May 24 due to the lockdown. Domestic flights resumed from May 25 but in a curtailed manner.