On August 13, SpiceJet India’s one of the leading airlines was estimated to conjure a loss of Rs 731.12 crore for Q1FY22 against a loss of Rs 600.52 crore in the previous year, in this given period.
The total income earned by the company through its usual work gains was accumulated to be Rs 1,125 which was double Rs 521 crore in Q1FY21, for the given period.
The company was said to experience a significant loss due to the spread of the second wave of Covid-19 in the country. Which to a great extent diminished the travel within and outside the country during the ongoing period. While SpiceXpress the airline’s logistic sector earned a net earning of Rs 30 crore. The profit boosted up to 285 per cent which was calculated to come around Rs 473 crore more than what was earned last year, Rs 166 crore in the given slot.
The company further confirmed the highest domestic load of 69.5 %.. enabling the capacity to uplift to 229 per cent.
“Q1 was severely impacted by the second wave as passenger traffic almost disappeared. While no one can predict the future, with vaccination numbers picking up and demand for air travel increasing steadily, we hope the trend reverses soon,” said Ajay Singh, Chairman and Managing Director, SpiceJet.
“SpiceJet will recover lost ground quickly as we are continuously ramping up our operations adding new stations and flights and are much better placed than this time last year. Our logistics arm continued with its strong growth story reporting yet another profitable quarter,” Singh added.
He further notified that the company is working towards making amends and strengthening the logistics business.
The stock numbers came up to 0.63 per cent up at Rs 71.90 on BSE on August 13.
