SpiceJet Reports ₹238 Crore Net Loss in Q1 FY26, Cites Geopolitical and Supply Chain Challenges
SpiceJet has announced its financial results for the first quarter of FY26, reporting a net loss of ₹238 crore, in contrast to a net profit of ₹150 crore in Q1 FY25. The results were influenced by geopolitical developments and airspace restrictions, which negatively impacted demand for leisure travel. Additionally, delays in returning grounded aircraft to service were caused by supply chain issues and engine overhaul constraints.
On an EBITDA basis, the airline reported ₹(18) Crore versus ₹402 Crore in Q1 FY25. Passenger Revenue per Available Seat Kilometre (PAX RASK) stood at ₹4.74, while the Passenger Load Factor (PLF) remained steady at 86%.
The airline’s net worth increased to ₹446 Crore from a negative ₹2,398 Crore in Q1 FY25, following financial restructuring measures.
Financial Highlights:
Net worth: ₹446 Crore (vs. ₹(2,398) Crore in Q1 FY25)
Operating loss: ₹78 Crore in Q1 FY26
Net loss: ₹238 Crore in Q1 FY26 (vs. net profit of ₹150 Crore in Q1 FY25)
EBITDA: ₹(18) Crore in Q1 FY26 (vs. ₹402 Crore in Q1 FY25)
PLF: 86%
PAX RASK: ₹4.74
Operational Highlights:
Lease restructuring agreement with Carlyle Aviation Management is worth $121.18 million
Lease secured for 10 Boeing 737 aircraft for induction from October 2025
Exploring damp lease arrangements under the Smart Lease Program
No Level 1 findings in DGCA safety audits for over a year
Added Kathmandu to the international network
Conducted Hajj operations, transporting nearly 15,500 pilgrims
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