Budget airline SpiceJet reported a net loss of Rs 238 crore for the June quarter, a stark reversal from the Rs 150 crore profit in the same period last year, primarily due to elevated costs from grounded aircraft and dampened leisure travel demand. Total income plummeted to Rs 1,190.56 crore from Rs 2,067.21 crore, as per a regulatory filing.

The carrier attributed the downturn to geopolitical tensions with a neighboring country, airspace restrictions in key markets, and global supply chain disruptions delaying aircraft returns. "This quarter's results reflect the extraordinary challenges faced by the aviation industry, including geopolitical turbulence, restricted air routes, and supply chain disruptions," said Chairman and Managing Director Ajay Singh. He outlined measures to boost fleet reliability, cut costs, and expand routes, including talks for damp-lease aircraft (where lessors provide planes and maintenance, excluding crew and insurance).

Positively, SpiceJet's net worth improved to Rs 446 crore from a Rs 2,398 crore deficit a year ago. However, its domestic market share stood at a modest 2% in July, reflecting ongoing struggles amid headwinds like lessor disputes and operational constraints.

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The results highlight broader aviation sector woes, with SpiceJet focusing on recovery strategies to stabilize operations and regain altitude in a competitive market

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