SpiceJet Q1 results: Airline reports ₹233.85 crore consolidated net loss; revenue declines 34%

SpiceJet reported a consolidated net loss of ₹233.85 crore for the April-June quarter of financial year 2026 on Friday, September 5, as compared to the ₹158.3 crore net profit seen in the same period last fiscal year.

The budget airline’s total revenue from operations stood at ₹1,120.2 crore in Q1 FY26 as against ₹1,708.2 crore in Q1 FY25, marking a fall of 34.4% on a year-on-year basis.

The company, which had been facing multiple headwinds, raked in a total income of ₹1,190.56 crore in the reporting quarter in contrast to ₹2,067.21 crore in the same period last year, according to a regulatory filing.

In a statement, SpiceJet said the results were significantly impacted by the geopolitical situation with a neighbouring country and airspace restrictions in key markets, which led to subdued leisure travel demand.

The delay in returning grounded aircraft to service, owing to global supply chain disruptions and engine overhaul challenges, further compounded the situation, the airline said in a regulatory filing.

On an EBITDA basis, the airline has reported ₹18 crore in Q1 FY26 compared to ₹402 crore in Q1 FY25. Its Passenger Revenue per Available Seat Kilometre (PAX RASK) for the quarter stood at ₹4.74. Passenger Load Factor (PLF) remained strong at 86%, underscoring SpiceJet’s resilience and continued customer preference.

Commenting on the company’s financial results, Ajay Singh, Chairman and Managing Director, SpiceJet, said, “This quarter’s results reflect the extraordinary challenges faced by the aviation industry, including geopolitical turbulence, restricted air routes, and supply chain disruptions. Despite these headwinds, SpiceJet continues to demonstrate resilience.”

SpiceJet’s net worth improved to ₹446 crore, compared to a negative ₹2,398 crore in Q1FY25, reflecting successful financial restructuring initiatives, the company said in a statement.

On the fleet and financing front, SpiceJet said it finalised terms with Carlyle Aviation Management Limited to restructure its entire lease obligations worth $121.18 million. The airline also secured lease agreements for 10 Boeing 737 aircraft that are scheduled for induction from October. It said discussions are underway for additional narrow-body and wide-body aircraft inductions during the winter season. “We are taking decisive steps to enhance fleet reliability, reduce costs, and expand our network. With India’s aviation and tourism sectors among the fastest‐growing globally, we remain confident of a strong recovery trajectory in the coming quarters,” Singh further said.

On Friday, SpiceJet shares fell nearly 2% to close at ₹34.45 apiece on the Bombay Stock Exchange (BSE). The stock has declined more than 6% over the past five days but was up just over 1% in the past month. Over the last 6 months, SpiceJet shares have declined significantly at 28.91%. The market capitalisation of the company also slipped to ₹4,869 crore.