Spicejet slips into net loss in Q3 FY26

SpiceJet

• SpiceJet posted a net loss of Rs 261.7 crore in Q3 FY26
• Revenue rose 14 percent to Rs 1,345.46 crore in Q3 FY26
• SpiceJet grew its fleet, network, and passengers in Q3 FY26

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SpiceJet posted a net loss of Rs 261.7 crore at the consolidated level for the quarter ended December 31, 2025 as against Rs 20.2 crore net profit reported in the same quarter a year ago.

Consolidated revenue from operations grew by 14 percent for the reporting quarter to Rs 1,345.46 crore as against Rs 1,178.76 crore posted in the same quarter last year.

SpiceJet said it maintained a passenger load factor (PLF) of 90 percent in Q3 FY26 compared to 84 percent in Q2 FY26 and 88 percent in Q3 FY25. Number of passengers travelled increased to 1.9 million in Q3 FY26 from 1.1 Million in Q2 FY26, a substantial increase of 77 percent.

The low-cost airline inducted 16 aircraft (Boeing NG and Boeing 737 Max) on wet lease, strengthening fleet and operational capability. It completed equity allotment to Carlyle Aviation Partners and GASL, resulting in the settlement of Rs 476 crore (US $54 Million) worth of liabilities.

SpiceJet’s board has mandated a calibrated ramp-up of fleet size to 55-60 aircraft effective the winter schedule, through a mix of wet and damp leases as well as the return to service of existing grounded aircraft. In parallel, the airline will seek to generate additional internal accruals by monetising surplus spare parts and components, further supporting liquidity and operational stability.

Network expansion also gathered pace, with SpiceJet commencing non-stop services to Najaf in Iraq, making it the only Indian airline to offer direct connectivity to the holy city. The airline launched non-stop flights between Ahmedabad and Sharjah and added Imphal to its network with daily connectivity from Kolkata, Guwahati and Mumbai, strengthening access to the North-East.

In a statement Ajay Singh, Chairman and Managing Director, SpiceJet, said, “While legacy costs and external factors continue to weigh on expenses, the core business is clearly strengthening. With more aircraft in service, a sharper network focus and continued balance sheet repair, we are building a more resilient airline, step by step."