SpiceJet flies into red; posts ₹238 cr loss in Jun quarter mainly on higher costs

New Delhi, September 5 (PTI) Flying to red, Spicejet reported a clear loss on Friday La238 Crore for three months, which ended in June, the costs of grounded aircraft and the suppressed entertainment travel demand affected financials.

The budget carrier, which faces more than one head wind, rose with total income LaIn the first quarter of the current fiscal year, 1,190.56 Crore. The same thing stopped LaAccording to a regulatory file, 2,067.21 Crore in the same period a year ago.

Spicejet said in a statement that the results were significantly affected by geopolitical situation with a neighboring country and airspace restrictions in key markets, which led to a demand for leisure travel.

“The delay in the return of grounded aircraft due to global supply chain cuts and motor revision challenges has further united the situation.”

The airline recorded a clear loss La238 Crore in June quarter, but made a profit La150 Crore compared to the previous year.

“The results of this quarter, geopolitical turbulence, limited airways and supply chain disruptions, including the extraordinary challenges of the aviation industry, reflect the extraordinary challenges faced by the aviation industry.” He said.

He also said that the airline has taken decisive steps to increase fleet reliability, reduce costs and expand the network.

In addition to other efforts, the airline is discussing to get a plane on moist rental arrangements to strengthen the reliability of network.

In general, in a humid leasing, the renter provides the plane with maintenance, but not crew and insurance.

According to the statement, the net value rose LaIn the last June quarter, 446 Crore, compared to an exposure La2,398 crore compared to the previous year.

In July, Spicejet had a 2 percent domestic market share, according to official data.