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SpiceJet CFO Sanjeev Taneja resigns amid airline's widening quarterly loss

Taneja's resignation comes amid a widening quarterly loss and a series of mid-air incidents

August 31, 2022 / 08:52 PM IST
Representative image.

Representative image.

Domestic low-cost carrier SpiceJet on August 31 informed the stock exchanges that Sanjeev Taneja, Chief Financial Officer of the company, has resigned with immediate effect. Taneja's resignation comes amid a widening quarterly loss and a series of mid-air incidents.

The airline, in a regulatory filing, also stated that the board has identified the candidate for appointment as CFO. "The vacancy shall be filled in the month of September 2022 and the necessary disclosure regarding such appointment shall be made upon completion of all formalities," it added.

The development comes along with the announcement of quarterly results of the company for the period ended June 30, 2022 (Q1FY23) and March 31, 2022 (Q4FY22).

SpiceJet reported a widening of net loss to Rs 789 crore for the quarter ended June 30, 2022, mainly hit by high fuel prices and a fall in the rupee. It had a net loss of Rs 729 crore in the quarter ended June 2021.

''Total revenue for the reported quarter was Rs 2,478 crore as against Rs 1,266 crore in the same quarter of the previous year,'' the airline said in a release.

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For the quarter ended March 2022, the airline posted a net loss of Rs 458 crore. In the year-ago period, it had a net loss of Rs 235.3 crore.
Aparna Banerjea
Tags: #SpiceJet
first published: Aug 31, 2022 08:10 pm
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