SpiceJet’s share price dropped over 5% in intraday trading on Monday, hitting a low of ₹32.60 on the BSE, following the airline’s weak Q1 FY26 results announced on September 5.

The budget carrier reported a consolidated net loss of ₹234 crore for the April-June quarter, a sharp reversal from the ₹158.18 crore profit in Q1 FY25.

Revenue from operations fell 36% year-on-year to ₹1,059.88 crore from ₹1,646.21 crore, driven by geopolitical tensions, airspace restrictions, and subdued leisure travel demand post the June 12 Air India crash.

Also Read: #BREAKING: NIA Raids 22 Locations Across India in Crackdown on Terror

The airline cited costs from grounded aircraft and supply chain disruptions as key factors. EBITDA turned negative at ₹18 crore, compared to a ₹402 crore profit last year. Despite this, the passenger load factor remained strong at 86%, and net worth improved to ₹446 crore from a ₹2,398 crore deficit. Chairman Ajay Singh emphasized resilience, citing plans to enhance fleet reliability and expand networks, with 10 Boeing 737s to be inducted from October.

Nuvama cut its target price to ₹40, maintaining a ‘Hold’ rating, citing operational challenges like lower available seat kilometers. The stock, down 45% over the past year, closed 3.63% lower at ₹33.20, reflecting investor caution amid ongoing aviation sector headwinds.

Also Read: Noida Teenager Kills Father Over Property Dispute, Sleeps Beside Body