NEW DELHI : No-frill carrier SpiceJet Ltd on Wednesday reported its first quarterly loss during the current fiscal, on back of higher costs during the seasonally weak quarter.
The losses would have been higher if the airline didn’t make a provision for compensation from Boeing Co. due to the grounding of 737 Max aircraft.
The budget airline—controlled by entrepreneur Ajay Singh—plunged to a consolidated loss of ₹ 461.22 crore in the three months ended 30 September, from a year-earlier net loss of ₹ 382.72 crore.
