SpiceJet reported a significant net loss of ₹6.34 billion in Q2 FY26 on total revenue from operations at ₹7.81 billion, marking a challenging quarter for the budget airline due to fleet reactivation expenses, grounded aircraft costs, and ongoing market headwinds. Management views this as a necessary phase before growth resumes.
Budget carrier SpiceJet announced consolidated financial results for Q2 FY26, revealing a net loss of ₹6.34 billion (₹634 crore) compared to a loss of ₹4.42 billion in the previous year’s quarter. Total revenue from operations stood at ₹7.81 billion, reflecting a decline approximately 13% year-over-year, pressured by subdued seasonal demand and operational constraints.
The company attributed the widening loss primarily to elevated costs associated with the grounding and return-to-service (RTS) of several aircraft, which alone accounted for ₹150 crore in expenses. Additional burdens included ongoing airspace restrictions and foreign exchange impacts on lease liabilities. Despite the financial setbacks, SpiceJet reported a robust passenger load factor of 84.3%, underscoring sustained market demand.
Chairman and Managing Director Ajay Singh described Q2 as a consolidation phase involving strategic fleet enhancement, including leasing 19 new aircraft, with expectations that these investments will bolster operational and financial performance starting Q3 FY26.
Key Highlights
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Q2 consolidated net loss widened to ₹6.34 billion from ₹4.42 billion YoY
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Total revenue from operations declined 13% to ₹7.81 billion
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Fleet revival and grounded aircraft costs totaled ₹150 crore
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Passenger load factor held strong at 84.3% despite seasonal weakness
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Management anticipates stronger performance and profitability in H2 FY26
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Ajay Singh emphasized ongoing expansion and fleet renewal as growth drivers
SpiceJet’s Q2 results reflect the broader challenges facing the aviation sector, including elevated operating costs and regulatory hurdles, but its strategic focus on fleet growth aims to position the airline for a comeback in the near term.
Source: Moneycontrol, Economic Times, Market Screener