SpiceJet loss widens 35% to ₹621 crore: Revenue down 13% in July-September quarter; Shares fell 37% this year

Low cost airline SpiceJet’s consolidated net loss in the July-September quarter (Q2FY26) increased 35% year-on-year to ₹621 crore. This was ₹458 crore in the same quarter last year. The company’s operational revenue also declined by 13% to ₹792 crore. It was Rs 915 crore in the same quarter last year.

Three reasons for increasing losses of SpiceJet

Operating Cost Increase: Fleet revival means repairing old planes—like repairing engines, replacing parts. SpiceJet kept several planes grounded in Q2, whose expenses reached Rs 297 crore. The cost of expansion (adding new flights) also increased, because money was spent in buying or leasing new planes. This increased total operating costs (running expenses) by 13% YoY. The company says this is short-term pain, but the fleet will become stronger in the long run.

Legion demand reduced, passengers decreased in monsoon: Legion demand means less travel in the monsoon season (July-September). People travel less at this time because it is the time of rains and holidays. SpiceJet’s revenue stood at Rs 792 crore, which is 13% less than last year’s Rs 915 crore. It fell 29% in QoQ as demand was higher in Q1. Passenger load factor stood at 84.3%, but total ticket sales were down. This reduced earnings and increased losses. The company said that the festive season will improve from Q3.

Supply Chain Problems: Supply chain problems mean shortages of parts and engines. Many SpiceJet planes remained grounded as engine overhaul was delayed. Parts arrived late due to global supply chain issues (such as shipment delays). This resulted in fewer flights and increased operational expenses. Operating loss of Rs 297 crore in Q2 came from this. The company said the fleet would be ready in Q3, but this became a major cause of losses right now.

SpiceJet shares fell 23% in 6 months

SpiceJet shares closed 4.17% higher at Rs 35.48 on the day of quarterly results. The airline company’s shares have given a return of 5.50% in one month. Whereas, long term i.e. it has fallen by 23.20% in 6 months and -38.21% in one year. SpiceJet’s market cap is Rs 5,000 crore.

Consolidated profit means performance of the entire group

The results of companies come in two parts – standalone and consolidated. Standalone shows the financial performance of only one unit. Whereas in the consolidated financial report the report of the entire company is given.

SpiceJet is India’s low cost airline

SpiceJet is India’s low cost airline, which connects remote corners of the country. The company operates around 250 flights daily to 48 destinations within India and international destinations. SpiceJet’s fleet includes Boeing 737 Max, Boeing 700 and Q400.

The SpiceJet brand was launched in 2004, but its Air Operator Certificate (AOC) dates back to 1993. Then an air taxi company owned by SK Modi had partnered with the German airline Lufthansa. Its operations ceased in 1996.

In 2004, entrepreneur Ajay Singh planned to create SpiceJet, India’s low-cost airline. SpiceJet’s first flight departed from New Delhi (DEL) to Mumbai (BOM) on 24 May 2005 using a leased Boeing 737-800.