SpiceJet’s standalone Q2FY22 net loss sequentially shrinks to Rs 561.7 cr

Mumbai, Nov 13 : Airline major SpiceJets Q2FY22 standalone net loss narrowed to Rs 561.7 crore on a sequential basis.

Mumbai, Nov 13, : The standalone net loss of SpiceJets Q2FY22 airline major has narrowed to Rs 561.7 Crore on a sequential basis.The airline had reported a net loss of Rs 729 crore in the first quarter of FY22.

In the first quarter FY22, the airline reported a net loss in excess of Rs 729 Crore.However, on a year-on-year basis the net loss widened.The net loss increased year over year.The airline had reported a net loss of Rs 112.59 crore during the second quarter of FY21.The airline reported a net loss in the second quarter FY21 of Rs 1112.59 crore."We have made excellent progress in our recovery and I expect this trend to continue forward in the coming quarters.

"We have made great progress in our recovery, and I expect this trend will continue in the future.With the nationwide vaccination drive growing at an unprecedented pace across geographies, there is a significant jump in travel demand and we are very excited about the demand recovery," said Ajay Singh, Chairman and Managing Director, SpiceJet.

The nationwide vaccination drive is growing at an unprecedented rate across geographies.This has led to a significant rise in travel demand.

We are excited about the recovery of this demand," stated Ajay Singh (Chairman and Managing Director, SpiceJet)."The settlement with key lessors, the return of the 737 MAX in the current quarter (Q3), transfer of the logistics business and some very significant announcements lined up soon are all positive tailwinds that should have a significant impact on our long term plans."."The settlement reached with key lessors, return of the 737 MAX during the current quarter (Q3) and transfer of the logistics company are all positive tailwinds that should have a significant effect on our long-term plans." According to Singh, the return of the 737 MAX comes at a time when passenger traffic is picking-up and the government has allowed airlines to operate at full capacity.

Singh says that the 737 MAXs return coincides with passenger traffic picking up and that the government has given airlines permission to continue operating at full capacity."We look forward to inducting additional capacity in the form of our 737 MAX aircraft that will upswing our operational efficiencies and provide significant cost saving capabilities."."We are looking forward to adding capacity with our 737 MAX aircraft which will increase our operational efficiency and provide significant cost savings #SpiceJets #standalone #sequentially #shrinks #Mumbai.