Shares of SpiceJet fell 5.4% to ₹32.60 on the BSE on Monday, September 8, after the airline reported a consolidated net loss of ₹234 crore for Q1FY26. This marked a sharp reversal from a net profit of ₹158 crore in the same quarter last year.

Key Highlights

• SpiceJet reports ₹234 crore Q1 net loss, shares tumble 5% amid investor concerns.
• Revenue plunges ~35%, grounded fleet and geopolitical tensions cited as key operational challenges.

Revenue from operations dropped 36% year-on-year to ₹1,060 crore, compared to ₹1,646 crore in Q1FY25. Sequentially, revenue fell 24% from ₹1,394 crore in Q4FY25, when the carrier had posted a profit of ₹342 crore. The airline reported an EBITDA loss of ₹18 crore, compared to a positive ₹402 crore a year earlier.

SpiceJet attributed the weak performance to geopolitical tensions, restricted airspace in key international markets, and delays in returning grounded aircraft to service due to supply chain disruptions and engine challenges. Despite these pressures, passenger load factor remained steady at 86%, with PAX RASK at ₹4.74.

Also Read: SpiceJet CMD Ajay Singh to Inject Rs 294 Crore into Airline through Another Entity

Brokerage firm Nuvama cut its target price on SpiceJet shares to ₹40 from ₹48, maintaining a ‘Hold’ rating. Analysts flagged slow fleet recovery and rising costs but noted Q2 outlook appeared stable. The carrier’s net worth improved to ₹446 crore, aided by financial restructuring and a planned ₹3,000 crore QIP for debt repayment and fleet induction.