SpiceJet share price drops 5% after Q1 show; should you buy, sell or hold?

SpiceJet's net worth position strengthened considerably, rising to ₹446 crore as against the earlier deficit of ₹2,398 crore in Q1FY25.

SpiceJet share price: Budget carrier SpiceJet shares tumbled in trade on Monday, September 8, 2025, with the stock falling up to 4.67 per cent to an intraday low of ₹32.84 per share.

 

By 9:21 AM, the scrip was trading lower by 3.89 per cent at ₹33.11, while the BSE Sensex was up 0.2 per cent at 80,874.39.

 

Why did SpiceJet share price fall?

 

SpiceJet on September 5 reported a consolidated net loss of ₹236.6 crore in Q1FY26, impacted by grounded aircraft awaiting maintenance, airspace restrictions, and soft passenger demand following the June 12 Air India crash. The airline had posted a net profit of ₹158.6 crore in Q1FY25.

 

“On an Ebitda basis, the airline reported ₹(18) crore in Q1FY26 compared to ₹402 crore in Q1FY25. Passenger Revenue per Available Seat Kilometre (PAX RASK) stood at ₹4.74. Passenger Load Factor (PLF) remained strong at 86 per cent, underscoring SpiceJet’s resilience and continued customer preference,” SpiceJet said, in a statement.

 

Contrastingly, the net worth position strengthened considerably, rising to ₹446 crore as against the earlier deficit of ₹2,398 crore in Q1FY25.

 

“This quarter’s results reflect the extraordinary challenges faced by the aviation industry, including geopolitical turbulence, restricted air routes, and supply chain disruptions. Despite these headwinds, SpiceJet continues to demonstrate resilience. We are taking decisive steps to enhance fleet reliability, reduce costs, and expand our network. With India’s aviation and tourism sectors among the fastest‐growing globally, we remain confident of a strong recovery trajectory in the coming quarters,” said Ajay Singh, chairman and managing director, SpiceJet.  Track Stock Market LIVE Updates 

SpiceJet share: Should you buy, sell or hold?

 

Analysts at Nuvama noted that SpiceJet reported Q1FY26 Ebitdar of ₹12.3 crore versus ₹280 crore in Q1FY25 on lower ASKM (-28 per cent), reduced PLFs (-736bp), and higher CASK (+8 per cent). 

 

Key points, analysts highlighted, include ASKM declined 28 per cent Y-o-Y due to a reduced operational fleet; Q1 yields rose 2 per cent Y-o-Y (IndiGo: -5 per cent Y-o-Y); Fleet expansion is likely delayed as there was no material change post ₹3,000 crore QIP and restructuring of lessors’ dues; IndiGo’s Q2FY26 outlook suggests a stable revenue environment; SJ’s scheduled flights were flat Y-o-Y in Q2; and Revival is expected to be gradual post-QIP, with turnaround a key monitorable. 

 

Thus, analysts at Nuvama have cut FY26E and FY27E Ebitdar by 14 per cent each due to delayed recovery, giving a target price of ₹40 and retaining a ‘Hold’ rating.

 

SpiceJet, one of India’s leading low-cost carriers, has made air travel more accessible to millions. An IATA‐IOSA certified airline, it operates a fleet of Boeing 737s and Q‐400s, including regional flights under the UDAN scheme. Many of its planes feature SpiceMax, India’s most spacious economy-class seating