SpiceJet posts highest ever quarterly loss amid high fuel prices
SpiceJet on Monday reported its highest ever quarterly loss in the second quarter of the fiscal year (Q2FY23) after the carrier’s operations were impacted by record high fuel prices, limited capacity and rupee depreciation. The airline’s consolidated loss widened by 46 per cent to Rs 833.2 crore year-on-year (YoY).
Earlier, the airline’s highest ever quarterly loss was recorded in the January-March period of FY20 at Rs 816.2 crore.
In Q2FY23, the airline’s expenses on fuel increased two-fold to Rs 1,226.4 crore from Rs 615 crore in the corresponding quarter of the previous fiscal year amid the Russia-Ukraine war. Its total expenses also jumped 39.56 per cent to Rs 2,935 crore in Q2.
