SpiceJet net loss narrows to Rs 57 crore as cargo business improves

NEW DELHI: SpiceJet on Wednesday reported a net loss of Rs 57 crore for the quarter ending December 31, 2020 as against a loss of Rs 112.6 crore in the previous quarter. The private carrier had reported a profit of Rs 78 crore in the corresponding quarter of last year (Q3FY20).

According to details filed with the stock exchanges, SpiceJet’s total revenue from operations for the period fell by a sharp 53.7 per cent to Rs 1,691 crore from Rs 3,656 crore in the corresponding period of the previous year. Ajay Singh, CMD, SpiceJet, said, “The pandemic has, undoubtedly, been the biggest crisis to hit the aviation industry and we are confident that things will only get better for us from now on.