SpiceJet reports ₹807 crore loss for March quarter on pandemic disruptions

NEW DELHI: Muted travel demand due to the coronavirus pandemic and grounding of its Boeing 737Max planes led low-fare airline SpiceJet Ltd to report a net loss of ₹807 crore for the March.

Five analysts polled by Bloomberg had estimated net loss at ₹687 crore.

The airline had reported a net profit of 56.3 crore in the year-ago period.

SpiceJet’s revenue for the March quarter, however, exceeded analysts’ expectations at ₹3,057.34 crore and was higher than ₹2571.83 crore reported a year ago.