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SpiceJet reports net loss of Rs 578 cr in Q2FY2023

Posted : 16 November 2022 10:51:25 | By TWO Bureau | GNN Bureau

SpiceJet reports net loss of Rs 578 cr in Q2FY2023

SpiceJet airline has reported a loss of Rs 837.8 crore (Rs 577.7 crore excluding forex adjustment) for the quarter ending September 30, 2022, as compared to a net loss of Rs 561.7 crore (Rs 568.7 crore excluding forex adjustment) in the quarter ending September 30, 2021, as business was hit by record high fuel prices and depreciating rupee in the traditionally weak quarter.

Ajay Singh, Chairman and Managing Director, SpiceJet, said: “The sector has been witness to prolonged challenges. However, the recent enhancement in ECLGS limit to Rs 1,500 crore by the government, recognising these challenges will go a long way in providing much-needed stability to the sector. I am confident that SpiceJet will only grow stronger than ever with brand new planes, providing an unparalleled experience for passengers. A near to normal business environment and an upturn in business and leisure travel coupled with government aid are giving hope to positivity.”

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Tags : ##spicejet, # #domestic_connection, # #goshwak-aviation, # #airbus, # #alterna-aircraft, # #ajaysingh, # #ECLGS,

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