NEW DELHI: Low-cost carrier SpiceJet reported a net loss of Rs 441.7 crore for the July-September quarter but bounced back to profit in the October-December (Q3FY25) quarter. The airline posted a net profit of Rs 26 crore in Q3FY25 on revenue of Rs 1,651 Crore.
Ajay Singh, Chairman and Managing Director of SpiceJet said that for the first time in a decade, the company has turned net worth positive – an important milestone that underscores the success of our turnaround strategy.
“The past is behind us, and we are now firmly focused on building a stronger, more resilient future for SpiceJet,” added Singh.
The airline’s successful Rs 3,000 Crore Qualified Institutional Placement (QIP), which saw participation from leading global investors has significantly strengthened its financial position, said SpiceJet. This has enabled the resolution of major legacy liabilities, fleet expansion, and accelerated operational growth.
Singh added that they have significantly strengthened our balance sheet, resolved key disputes, and are continuously expanding our fleet. He informed that SpiceJet is in discussions with OEMs for advanced deliveries of aircraft and is actively exploring both organic and inorganic growth opportunities.
Debojo Maharshi, Chief Business Officer, SpiceJet, said, that strong demand and effective network optimization are expected to drive a double-digit growth in RASKs during the fourth quarter of FY25 compared to the previous year.
“This anticipated increase will not only enhance our revenue streams but also significantly improve our cash flows, contributing to the overall financial health of the company and enabling us to invest in key initiatives,” added Maharishi.