Budget carrier SpiceJet on Friday announced its financial results for the quarter ended June 30 (Q1 FY26), reporting a net loss of Rs 238 crore compared to a net profit of Rs 150 crore in Q1 FY25.
The airline said that its results were significantly impacted by the geopolitical situation with a neighbouring country and airspace restrictions in key markets, which led to subdued leisure travel demand.
The delay in returning grounded aircraft to service, owing to global supply chain disruptions and engine overhaul challenges, further compounded the situation.
On an EBITDA basis, the airline reported Rs 18 crore in Q1 FY26 compared to Rs 402 crore in Q1 FY25. Passenger Revenue per Available Seat Kilometre (PAX RASK) stood at Rs 4.74 and Passenger Load Factor (PLF) remained strong at 86%.
SpiceJet claimed that its net worth improved to Rs 446 crore, compared to a negative Rs 2,398 crore in Q1 FY25, reflecting successful financial restructuring initiatives.
Ajay Singh, Chairman and Managing Director, SpiceJet, said this quarter’s results reflect the extraordinary challenges faced by the aviation industry, including geopolitical turbulence, restricted air routes, and supply chain disruptions.
“Despite these headwinds, SpiceJet continues to demonstrate resilience. We are taking decisive steps to enhance fleet reliability, reduce costs, and expand our network. With India’s aviation and tourism sectors among the fastest-growing globally, we remain confident of a strong recovery trajectory in the coming quarters,” added Singh.