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SpiceJet increased losses to US$103 million in latest quarter
November 15th 2022
India’s SpiceJet has reported a net loss of 8.4 billion rupee (US$103 million) for the three months to September 30 compared with a net loss of 5.6 billion rupee in the same months in 2021. Read More » Revenue improved 45.4%, to 19.5 billion rupee, SpiceJet has reported to India's BSE stock exchange. The LCC’s chairman and managing director, Ajay Singh, said the result was impacted by high fuel prices and foreign currency movements that continued to be a "downer" for the industry. “But the overall outlook for the sector remains positive,” he said. “We expect significant improvement in our operating environment and are well placed to script a new phase of accelerated growth to meet resurgent demand from passenger and cargo customers.”
