Stung by lockdown, SpiceJet posts net loss of ₹807 crore in Q4

New Delhi: Budget carrier SpiceJet on Wednesday reported a net loss of ₹807.1 crore for the fourth quarter ended March 2020, owing to the coronavirus-induced lockdown that led to travel restrictions.

It had posted a net profit of ₹56.3 crore in the corresponding quarter of the previous financial year, the airline said in a statement. For the full financial year 2019-20, its net loss stood at ₹934.8 crore as against a net loss of ₹316.1 crore in 2018-19.

The airline in the statement also informed that its Chief Financial Officer Kiran Koteshwar has resigned and “decided to pursue an exciting opportunity overseas”. He will remain with SpiceJet till August 31 and for a transition thereafter, it said.