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SpiceJet auditor unsure of airline's ability to continue as going concern

SpiceJet posted a pre tax loss of Rs 807 crore in Q4FY20 due to an increase in finance charges, depreciation and foreign exchange loss as against Rs 56.3 crore profit in same period last year

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SpiceJet's outgoing chief financial officer said the airline has implemented strict cost control measures to limit cash burn

Aneesh Phadnis Arindam Majumder Mumbai/Delhi

3 min read Last Updated : Jul 30 2020 | 12:02 AM IST

SpiceJet's auditor has expressed doubt on the airline's ability to continue as a going concern as two successive annual losses have led to erosion of its net worth.

SpiceJet posted a pre tax loss of Rs 807 crore in Q4FY20 due to an increase in finance charges, depreciation and foreign exchange loss as against Rs 56.3 crore profit in same period last year. The fourth quarter result was announced on Wednesday.

The Covid-19 pandemic and the grounding of Boeing 737 Max aircraft also weighed in on the results. Revenue was up 13 per cent in the fourth quarter to Rs

Topics : Coronavirus SpiceJet Aviation COVID-19

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