NEW DELHI: Low cost carrier SpiceJet has reported a loss of Rs 561.7 crore in the July-September 2021 quarter, up from a loss of Rs 112.6 crore in same period last year but a sharp reduction from the loss of Rs 729 crore this Q1 (April-June).
The airline’s scrip closed at Rs 73.95, up 1% on BSE on Friday, when the broader market was up 1.3%.
Total revenue this Q2 was Rs 1,539 crore against Rs 1,266 crore in the last quarter, due to a recovery in air travel.
SpiceJet CMD Ajay Singh said: “We have made excellent progress in our recovery and I expect this trend to continue forward in the coming quarters. With the nationwide vaccination drive growing at an unprecedented pace across geographies, there is a significant jump in travel demand and we are very excited about the demand recovery. The settlement with key lessors, the return of the 737 MAX in the current quarter (Q3), transfer of the logistics business and some very significant announcements lined up soon are all positive tailwinds that should have a significant impact on our long term plans.”
“The return of the 737 MAX comes at the perfect time for us with passenger traffic picking-up and the government allowing airlines to operate at full capacity. We look forward to inducting additional capacity in the form of our 737 MAX aircraft that will upswing our operational efficiencies and provide significant cost saving capabilities,” Singh added.
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