SpiceJet, one of India’s prominent budget airlines, has announced a significant financial turnaround in its fourth quarter of fiscal year 2025, recording a profit after tax of $37.8 million. This figure marks a 173% increase compared to the previous period, underscoring a robust recovery in profitability despite declining revenues.
SpiceJet, one of India’s leading low-cost carriers, has scored a major legal victory after a division bench of the Delhi High Court dismissed an appeal filed by KAL Airways and former SpiceJet promoter Kalanithi Maran. The appeal sought over $152.7 million in damages along with other claims stemming from past financial and ownership disputes.
SpiceJet has encountered a regulatory setback as India’s capital market regulator declined a request by the Elara India Opportunities Fund (Mauritius) to convert warrants worth over US$46.8 million into equity shares. The Securities and Exchange Board of India (SEBI) cited non-compliance with beneficial ownership disclosure requirements as the basis for its decision.
SpiceJet is once again under legal scrutiny as it faces fresh insolvency proceedings initiated by BBN Airlines Indonesia. The dispute centers on unpaid lease rentals amounting to US$5.9 million, marking another financial challenge for the Indian low-cost carrier.
SpiceJet founder and chairman Ajay Singh will inject US$33.8 million into the airline through the conversion of warrants into equity shares. This move will significantly raise his stake, pushing his overall shareholding to more than 33%.
SpiceJet, a leading Indian low-cost carrier, has augmented its fleet by wet-leasing a Boeing 737-800 aircraft from Corendon Airlines Malta. This strategic move aims to bolster SpiceJet’s operational capacity and meet the increasing demand for air travel.
SpiceJet, one of India’s leading low-cost carriers, has reported a net profit of $2.9 million for fiscal Q3 ending December 31, 2024, marking a significant turnaround in its financial performance. The airline saw total revenue surge 35% year-over-year to $188.7 million, reflecting improved operational efficiency and demand recovery.
SpiceJet (India) is actively considering expanding its fleet with widebody aircraft, marking a potential shift in its operational strategy. However, the airline’s primary focus remains on bringing 30 grounded planes back into service while awaiting deliveries of new B737-8 aircraft.
SpiceJet, a prominent Indian airline, has announced plans to reintroduce one of its grounded Boeing 737 MAX aircraft back into operations starting 29 January 2025. This move marks the beginning of a phased plan to return 10 aircraft to service by mid-April 2025, enhancing the carrier’s operational capacity.
SpiceJet (India) has announced plans to unground 10 additional aircraft by mid-April 2025, further enhancing its operational capacity. This move follows the airline’s recent success in adding or restoring 60 flights over the past three months, a direct result of improved fleet availability.
