SpiceJet flies into red: Posts ₹238 cr loss in June quarter on low demand

SpiceJet reported a ₹238 crore loss in Q1 FY26, citing weak travel demand after Operation Sindoor, Pakistan's airspace closure and delayed aircraft returns

SpiceJet on Friday reported a quarterly loss for the June quarter (Q1) of financial year 2025-26 (FY26) at ₹238 crore, compared to a profit of ₹150 crore in the same period last year.

 

The airline attributed the loss to a slump in leisure travel demand on some routes during and after Operation Sindoor, which India carried out against Pakistan following the Pahalgam terror attack. Pakistan has since closed its airspace to Indian carriers.

 

Aircraft delays add to financial stress 

The company said that delays in returning some grounded aircraft to service, amid lease disputes and financial stress, also weighed on performance.

 

Consolidated revenue from operations fell 35 per cent year-on-year (Y-o-Y) to ₹1,106 crore from ₹1,695 crore. Sequentially, revenue was down from ₹1,446 crore.

 

Earnings before interest, tax, depreciation and amortisation (Ebitda) dropped sharply to ₹18 crore from ₹402 crore a year ago.

 

Chairman cites industry-wide challenges

  “This quarter’s results reflect the extraordinary challenges faced by the aviation industry, including geopolitical turbulence, restricted air routes and supply chain disruptions,” said Ajay Singh, chairman and managing director of SpiceJet.

 

He added that the airline is taking steps to improve fleet reliability, cut costs and expand its network.

 

Net worth turns positive despite loss 

SpiceJet’s net worth rose to ₹446 crore in the June quarter, compared with a deficit of ₹2,398 crore in the year-ago period.