News
SpiceJet posts US$98.2 million quarterly loss, CEO says airline better positioned than last year
August 17th 2021
Indian carrier, SpiceJet, has reported a net loss of 7.29 billion rupee (US$98.2 million) for the three months to June 30, a deterioration from a net loss of 5.93 billion rupee in the same three months in 2020. Read More » Revenue rose 80%, to 12.66 billion rupee, SpiceJet said in a regulatory filing to the BSE stock exchange. Costs increased 54%, to 19.95 billion rupee. Flight operations were severely impacted by India's COVID-19 second wave, the LCC said. “The last five quarters have been the most difficult phase ever for SpiceJet as aviation remained the worst hit sector during the second wave as well," SpiceJet CEO, Ajay Singh, said. "While no one can predict the future, with vaccination numbers picking up and demand for air travel increasing steadily, we hope the trend reverses soon. I am confident SpiceJet will recover lost ground quickly as we are continuously ramping up our operations by adding stations and flights. We are much better placed than this time last year."
