How can SpiceJet fly out of its existential crisis?

A considerable jump in air traffic and moderation in jet fuel prices have failed to turn around the fortunes of SpiceJet — which continued to remain in the red. In January, domestic airlines carried 64 lakh passengers. And the numbers jumped to 6.7 crore in July.
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During the same period, SpiceJet’s domestic market share came down from 10.65 to 8%, which meant the airline slipped from Number 2 to Number 5 in ranking in a matter of six months. The company delayed its Q4 FY22 results after witnessing a ransomware attack on May 25th.