You are here: Home » Companies » Results
Business Standard

Covid-19 impact: SpiceJet posts Rs 600.5 crore loss for June quarter

Budget carrier SpiceJet reported a net loss of Rs 600.5 crore for the first quarter ended June 30, owing to the suspension of flight operations due to the coronavirus-induced lockdown

Topics
SpiceJet | Q1 results | Coronavirus

Press Trust of India  |  New Delhi 

spicejet

Budget carrier on Tuesday reported a net loss of Rs 600.5 crore for the first quarter ended June 30, owing to the suspension of flight operations due to the coronavirus-induced

It had posted a net profit of Rs 262.8 crore in the corresponding period of the previous financial year.

The airline's operating revenue stood at Rs 521 crore in the first quarter of 2020-21, significantly lower as against Rs 3,002.8 crore a year ago, it said in a statement.

Operating expenses during the June 2020 quarter were Rs 1,311.6 crore, compared to Rs 2,886.7 crore in the year-ago period.

Chairman and Managing Director Ajay Singh said, "Flight operations were suspended for most part of the (first) quarter, and the partial resumption of flights initially and weak demand thereafter were a reminder of the significant problems that this pandemic has resulted in."

In July, the country's largest airline IndiGo declared a net loss of Rs 2,884.3 crore for the first quarter of 2020-21.

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

Scheduled international flights have been suspended in India since March 23 due to the coronavirus-triggered However, special international passenger flights have been operating in India under the Vande Bharat Mission since May and under bilateral air bubble arrangements formed between India and other countries since July.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, September 15 2020. 18:57 IST
RECOMMENDED FOR YOU