Page 4 - SpiceJet Ltd News

SpiceJet Q1 results: Net profit drops 20% to Rs 158 cr due to fewer flights

Airline said it has initiated process of raising Rs 3,000 crore through QIP

SpiceJet Q1 results: Net profit drops 26.7% to Rs 150 cr on fewer flights

The company reported a profit of Rs 150 crore ($17.9 million) for the quarter ended June 30, down 26.7% from last year

SpiceJet Promoter Ajay Singh to dilute over 10% stake to raise Rs 3,000 cr

After the fundraising, Ajay Singh's shareholding in SpiceJet may drop to 30-35% from 47.8%

Lessors reject SpiceJet CMD Ajay Singh's pledge of shares to pay dues

Citing the depreciation of their assets, the lessors sought the grounding of the airline and the return of the engines

Delhi HC tells SpiceJet to personally guarantee payment to lessors

The court had earlier given SpiceJet a final chance to settle a payment of Rs 50 crore to its engine lessors, Team France and Sunbird France

SpiceJet share price up 4.5% after SC upholds Delhi HC order favouring co

SpiceJet Supreme Court order: The Supreme Court, today, likely dismissed a petition filed by Kalanidhi Maran against the Delhi High Court's order which quashed the arbitral award in favour of Maran

SpiceJet airline's board approves raising Rs 3,000 crore through QIP

Five years back, SpiceJet was operating about 4,000 flights per week. Currently, the airline is operating just about 1,154 flights per week, according to Cirium

SpiceJet to raise $360 mn by selling securities to restore normalcy

The company will issue shares to institutional investors, it said in an exchange filing, without disclosing the price at which they would be sold

All ops running after successful resolution of Microsoft outage: SpiceJet

SpiceJet said late on Friday that all its systems at airports, ticket bookings and call centres are up and running smoothly after a "successful resolution" of a Microsoft outage that impacted the aviation industry all through the day. "The technical outage has been fully resolved, and all our systems are back to normal operations," SpiceJet Chairman and Managing Director Ajay Singh said in a statement. The outage, which began Friday morning, affected airlines globally, causing temporary disruptions to online services and airport check-in processes. The airline said that despite the challenges posed by the global technical outage, it is operating all scheduled flights as planned on Friday and claimed there was not even a single cancellation due to the technical outage. "Our team worked to ensure minimal disruption to our passengers' travel plans. We appreciate the understanding and cooperation of our passengers and stakeholders during this time," the airline said.

SpiceJet gains 5% on fresh capital raising plan; stock up 12% in 4 days

However, in the past six months, the SpiceJet stock has underperformed the market by falling nearly 10 per cent, as compared to 13 per cent rally in the BSE Sensex.

SpiceJet CFO Ashish Kumar resigns less than 2 years after appointment

Struggling carrier SpiceJet on Tuesday said its chief financial officer (CFO) Ashish Kumar has resigned from the company, less than two years of his appointment. The airline also announced the appointment of Joyakesh Podder as the new head of finance, designated as deputy CFO of the company from July 15. Kumar was appointed as the CFO in September 2022. "SpiceJet announces the appointment of Joyakesh Podder as the new Head of Finance designated as Dy Chief Financial Officer of the Company, effective from 15 July 2024. The company also announces the resignation of Ashish Kumar, who served as the Head of Finance and Chief Financial Officer," SpiceJet said in the statement. Podder was offered this role in April this year and has joined the SpiceJet team to lead the finance department and support the company's strategic financial initiatives, the company said. This will be his second stint at the Gurugram-based airline. A seasoned chartered accountant with over three decades of exper

SpiceJet shares fly 7% on six-fold jump in Q4 profit; gains 15% in 2 days

SpiceJet shares: SpiceJet airline reported a standalone net profit of Rs 119 crore in Q4FY24

SpiceJet posts net loss for sixth consecutive year amid ongoing cash crunch

SpiceJet said that due to its operational and financial position, it has deferred payments to various parties, including lessors, vendors, and statutory authorities

SpiceJet posts 6-fold jump in profit to Rs 119 cr for March quarter

Budget carrier SpiceJet on Monday reported a six-fold jump in its standalone profit to Rs 119 crore for the January-March quarter of 2023-24 over Rs 16.85 crore profit in the corresponding quarter of the previous year. Revenue from operations during the quarter under review, however, declined 20 per cent to Rs 1,719.37 crore from Rs 2,144.85 crore in the fourth quarter of the financial year ended March 31, 2023, according to a regulatory filing. For the full fiscal 2023-24, the airline posted a loss of Rs 409.43 crore against a loss of Rs 1503 crore in FY 23, as per the filing. For the December quarter, SpiceJet reported a loss at Rs 409.43 crore as against a profit of Rs 106.82 crore in FY23, it stated. "We announce a strong financial performance in Q4 FY2024, with net profit surging sixfold to Rs 119 crore compared to the same quarter last year. The results reflect our relentless efforts to enhance operational efficiency and our commitment to turning around the company's fortune

SpiceJet faces new financial crisis over unpaid provident fund dues

SpiceJet faces new financial crisis: The last provident fund deposit by SpiceJet was made in January 2022 for 11,581 employees, as revealed by a query sent to the EPFO

SpiceJet faces contempt notice if engines not returned to lessor by July 8

The Delhi High Court has warned SpiceJet of contempt if it fails to return three engines to TWC Aviation by July 8, noting the airline's significant debt