SpiceJet swings to Rs 234 crore loss in Q1, revenues fall over 34%

Mumbai, Sep 5: Budget airline SpiceJet on Friday slipped into the red in the April–June quarter (Q1) of FY26, reporting a consolidated net loss of Rs 234 crore compared to a net profit of Rs 158 crore in the same period previous financial year (Q1 FY25).

The sharp decline came as revenues from operations dropped 34.4 per cent year-on-year (YoY) to Rs 1,120 crore from Rs 1,708 crore, according to its stock exchange filing.

The airline said the losses were mainly due to costs linked to grounded aircraft and expenses for bringing them back into service. It also pointed to geopolitical tensions with a neighbouring country and airspace restrictions in key markets, which hit leisure travel demand.