SpiceJet Ltd. has posted a major financial and operational turnaround, reporting its highest-ever quarterly profit of Rs 319 crore for Q4 FY25, marking the second consecutive profitable quarter. For the full fiscal year ending March 31, 2025, the airline declared a net profit of Rs 48 crore, its first annual profit in seven years, a stark reversal from the Rs 404 crore loss in FY24.
SpiceJet’s operating revenue jumped 17.5% sequentially to Rs 1,446 crore in Q4, while total revenue stood at Rs 1,942 crore compared to Rs 1,651 crore in the previous quarter. A robust Passenger Load Factor (PLF) of 88.1%, and an improved Revenue per Available Seat Kilometer (RASK) of Rs 5.66 underscored strong market demand and pricing power.
Profit after tax (PAT) soared to Rs 319 crore from Rs 26 crore in Q3 FY25, while EBITDA more than doubled to Rs 527 crore, reflecting effective cost management and improved yields.
SpiceJet’s total revenue for FY25 was Rs 6,736 crore. Though lower than the Rs 8,497 crore in FY24, the airline returned to profitability, with a positive net worth of Rs 683 crore. Full-year EBITDA increased to Rs 924 crore, up from Rs 777 crore. RASK also grew 9.3% YoY to Rs 6.60, indicating a recovery in pricing.
Passenger load factor remained stable at 87.7% compared to 88.8% in the previous year. The airline also launched new domestic routes and expanded its network to Kathmandu, its first international destination of FY25.
Capital infusion and strategic expansion
The Promoter Group infused Rs 500 crore during FY25, including Rs 294.09 crore in Q4, reinforcing investor confidence. The airline launched 24 new domestic flights and added three new destinations such as Tuticorin, Porbandar, and Dehradun under its Summer 2025 schedule.
SpiceJet also renewed its prestigious IATA IOSA certification, reinforcing its commitment to international safety standards.
Chairman and MD Ajay Singh acknowledged delays in grounded fleet revival due to global supply chain and engine overhaul constraints but noted progress. Partnerships with StandardAero Inc. and Carlyle Aviation are enabling engine overhauls and gradual fleet restoration. “With overhauled engines now returning, we expect a steady ramp-up in operational capacity in the weeks ahead,” Singh said.