SpiceJet’s Q2 net loss widens to Rs 562 crore; increase in total income

SpiceJet’s Q2 net loss widens to Rs 562 crore; increase in total income

Budget carrier SpiceJet on Friday reported an increase in net loss to Rs 561.7 crore for the quarter ended September 2021.

It had a net loss of Rs 112.6 crore in the corresponding period of the previous financial year.


The total income in the second quarter of 2021-22 was Rs 1,538.6 crore. This was Rs 1,292.9 crore in the year-ago period, the company said in the release.

Total expenditure increased to Rs 2,100.4 crore during the period under review from Rs 1,405.6 crore in Q2 of 2020-21.

The airline had posted a net loss of Rs 729 crore in the first quarter of the current financial year.

Ajay Singh, Chairman and Managing Director, SpiceJet said, “The vaccination campaign across the country is growing at an unprecedented pace, there has been a significant jump in demand for travel and we are very excited about the recovery in demand.”

“Agreement with major lessors, the return of the 737 MAX in the current quarter (Q3), the relocation of the logistics business and some very important announcements soon are all positive tailwinds that should have a significant impact on our long-term plans,” he said.

Scheduled domestic flight services in India were suspended from March 25, 2020 to May 24, 2020, due to the COVID-triggered lockdown.

Scheduled international flights in India have been suspended since March 23 last year. However, a limited number of international passenger flights have been operating since July last year under the air bubble arrangement formed with around 28 countries.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is generated automatically from a syndicated feed.)

                                                    </div><div style="background: #fee8dd; padding: 12px; border: dashed 1px black; margin-bottom: 20px;">

mail Dear reader,

Business Standard has always worked hard to provide updated information and commentary on events that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only reinforced our resolve and commitment to these ideals. Even during these difficult times arising out of COVID-19, we are committed to keeping you informed and updated with relevant news, authoritative views and scathing comments on relevant relevant issues.
However, we have a request.

As we grapple with the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. Subscribing to more of our online content can only help us achieve our goals of providing you with better and more relevant content. We believe in independent, unbiased and credible journalism. Your support through more subscriptions can help us practice the journalism we’re committed to.

support quality journalism and Subscribe to Business Standard,

digital editor

,

—-*Disclaimer*—–

this is an unedited and auto-generated supporting article of the syndicated news feed are actualy credit for owners of origin centers. intended only to inform and update you about Sakari naukri , result , UPSC , Exam Jobs etc. for Provides real or authentic news. also Original content may not have been modified or edited by Rojgar samachar team members.

Leave a Reply