SpiceJet reported widening of consolidated net loss to Rs 621.49 crore in Q2FY26 from a net loss of Rs 458.26 crore reported in Q2FY25. Consolidated revenue from operations of the airline declined 13% to Rs 792 crore in Q2FY26 from Rs 915 crore in Q2FY25.
On standalone basis the company reported a net of Rs 635.42 crore from a net loss of Rs 447.54 crore reported in Q2FY25.
Total income fell to Rs 835.31 crore from Rs 1,078.21 crore in Q2FY25. However, the airline expects positive financial performance in the second half of the current financial year (2HFY26).
Low-cost carrier SpiceJet on Wednesday reported a wider consolidated net loss of for the quarter ended September 30, 2025, compared with a loss of Rs 458 crore in an year-ago quarter.
SpiceJet’s profit hit by forex loss, grounded fleet expenses
Multiple factors, including foreign exchange loss, additional expenses related to grounded as well as reinducted aircraft and airspace curbs, hit the budget carrier’s bottom line.
SpiceJet incurred costs of Rs 120 crore related to the grounded fleet and expenses of Rs 30 crore with respect to aircraft that returned to service.
Excluding foreign exchange loss, the carrier had a net loss of Rs 447.70 crore in Q2FY26, higher than Rs 424.26 crore reported in Q2FY25.
“The results for the seasonally weak quarter were primarily driven by impact of recalibrating dollar-based future obligations along with carrying cost of grounded fleet and additional expenses incurred towards RTS (Return to Service),” the company said in its Q2release.
The airline also said that continued airspace restrictions negatively impacted operations and resulted in a sharp escalation in operating costs, further weighing on the quarter’s performance.
Fleet expansion costs to pay off soon: SpiceJet CMD Ajay Singh
SpiceJet Chairman and Managing Director Ajay Singh said the results reflect short-term costs related to fleet revival and expansion, these are strategic investments that will start yielding results from the current quarter onward.
“With aircraft additions already underway and our network expanding rapidly, SpiceJet is now on a clear trajectory towards stronger operational and positive financial performance in the second half of the year,” he added.
With the winter schedule now in operations, he also said there are more high-yield routes in the pipeline.
“On an EBITDAR (ex-forex) basis, the airline reported Rs (203.80) crore in Q2 FY26, compared to Rs (58.87) crore in Q2 FY25. Passenger Revenue per Available Seat Kilometre (PAX RASK) stood at Rs 4.04, while Passenger Load Factor (PLF) remained robust at 84.3 per cent,” the release said.
EBITDAR refers to Earnings Before Interest, Taxes, Depreciation, Amortisation and Rent.
SpiceJet ramps up capacity with 19 new aircraft leases
In the second quarter (July–September), SpiceJet carried out one of its largest fleet expansion initiatives, finalising lease agreements for 19 aircraft. The airline added that it remains on track to more than double its fleet size and triple its Available Seat Kilometre (ASKM) during the winter schedule.
Share price of Spicejet
The shares price of spicejet rose 4.17% to close at Rs 35.48 on the BSE.
