SpiceJet loss widens to Rs 635 cr in Sept quarter; eyes better performance in Oct-March FY26

New Delhi: SpiceJet on Wednesday reported widening of net loss to Rs 635.42 crore in September quarter FY26 as multiple factors, including foreign exchange loss, additional expenses related to grounded as well as reinducted aircraft and airspace curbs, hit the budget carrier's bottom line.

The airline, which had faced multiple headwinds, had recorded a net loss of Rs 447.54 crore in the year-ago period and expects positive financial performance in the second half of the current financial year.

Excluding foreign exchange loss, the carrier had a net loss of Rs 447.70 crore in the second quarter of the current fiscal, higher than Rs 424.26 crore reported in the same period a year ago, it said in a release.

"The results for the seasonally weak quarter were primarily driven by impact of recalibrating dollar-based future obligations along with carrying cost of grounded fleet and additional expenses incurred towards RTS (Return to Service)," the release said.

The airline also said that continued airspace restrictions negatively impacted operations and resulted in a sharp escalation in operating costs, further weighing on the quarter's performance.

SpiceJet incurred costs of Rs 120 crore related to the grounded fleet and expenses of Rs 30 crore with respect to aircraft that returned to service.

Total income in the latest September quarter fell to Rs 835.31 crore from Rs 1,078.21 crore in the year-ago period, as per a filing to the BSE.

SpiceJet Chairman and Managing Director Ajay Singh said the results reflect short-term costs related to fleet revival and expansion, these are strategic investments that will start yielding results from the current quarter onward.

"With aircraft additions already underway and our network expanding rapidly, SpiceJet is now on a clear trajectory towards stronger operational and positive financial performance in the second half of the year," he added.

With the winter schedule now in operations, he also said there are more high-yield routes in the pipeline.

"On an EBITDAR (ex-forex) basis, the airline reported Rs (203.80) crore in Q2 FY26, compared to Rs (58.87) crore in Q2 FY25. Passenger Revenue per Available Seat Kilometre (PAX RASK) stood at Rs 4.04, while Passenger Load Factor (PLF) remained robust at 84.3 per cent," the release said.

EBITDAR refers to Earnings Before Interest, Taxes, Depreciation, Amortisation and Rent.

In the September quarter, SpiceJet said it undertook one of its most significant fleet enhancement programmes and finalised lease agreements for 19 aircraft.

The airline also said that it is on track to more than double its fleet and triple ASKM (Available Seat Kilometre) during the winter schedule.

Shares of the carrier rose 4.17 per cent to close at Rs 35.48 on the BSE.