Caught in Covid air pocket, SpiceJet posts Rs 593-crore pre-tax loss in Q1

Low-cost airline SpiceJet reported a pre-tax loss of Rs 593.4 crore in the first quarter of the current financial year, against a profit of Rs 261.6 crore in the same quarter of the previous year. The loss was on account of suspension of flight operations for a major part of the quarter, following the nationwide lockdown announced by the government to counter the pandemic.

Market leader IndiGo had registered a pre-tax loss of Rs 2,849 crore during the same period.

SpiceJet’s operating revenue was down 83 per cent to Rs 514.7 crore for the quarter, against Rs 3,002.1 crore in the same