SpiceJet posts Rs 238 crore loss in Q1 FY26 on airspace curbs, supply chain woes

SpiceJet Ltd on Friday reported a consolidated net loss of Rs 238 crore for the quarter ended June 30, 2025 (Q1 FY26), against a net profit of Rs 150 crore in the same period last year.

The airline said results were significantly impacted by the geopolitical situation with a neighbouring country and airspace restrictions in key markets, which weighed on leisure travel demand.

The carrier also cited delays in returning grounded aircraft to service, due to global supply chain disruptions and engine overhaul challenges, as factors compounding the losses.

On an EBITDA basis, SpiceJet reported a loss of Rs 18 crore in Q1 FY26 compared to Rs 402 crore profit in Q1 FY25. Passenger Revenue per Available Seat Kilometre (PAX RASK) was at Rs 4.74, while Passenger Load Factor (PLF) remained strong at 86 per cent, underscoring steady customer demand despite operational challenges.

The airline said its net worth improved to Rs 446 crore from a negative Rs 2,398 crore in Q1 FY25, aided by ongoing financial restructuring measures.

Commenting on the results, Ajay Singh, Chairman and Managing Director, SpiceJet, said, "This quarter's results reflect the extraordinary challenges faced by the aviation industry, including geopolitical turbulence, restricted air routes and supply chain disruptions. Despite these headwinds, SpiceJet continues to demonstrate resilience. We are taking decisive steps to enhance fleet reliability, reduce costs and expand our network. With India's aviation and tourism sectors among the fastest-growing globally, we remain confident of a strong recovery trajectory in the coming quarters."

The quarterly earnings came post-market hours today. Earlier in the day, SpiceJet shares fell 1.60 per cent to close at Rs 34.45.