SpiceJet has reported another weak quarter, with losses deepening and revenues under pressure. However, the airline is betting on fresh capacity additions and management changes to drive a turnaround in the coming months.

The airline’s revenue from operations fell 14% year-on-year to ₹781 crore in Q2FY26, compared to ₹911 crore in the same quarter last year. Net loss widened by nearly 44% to ₹633 crore, dragged further by a foreign exchange loss of ₹187 crore during the quarter.

Financial stress deepens

The balance sheet continues to be under strain. Current liabilities have surged to ₹7,051 crore, exceeding current assets by ₹4,350 crore. The airline’s accumulated losses now stand at ₹8,692 crore, resulting in a negative net worth of ₹2,801 crore.

Auditors have expressed concerns abo

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