New Delhi: No-frill carrier SpiceJet Limited on Tuesday posted a net loss of Rs 600.52 crore for the June quarter, owing to the suspension of flight operations due to the coronavirus-induced lockdown.
The airline had reported a net profit of Rs 262.8 crore in the corresponding period of the previous financial year.
Company’s operating revenue stood at Rs 521 crore in the first quarter of 2020-21, significantly lower as against Rs 3,002.8 crore a year ago.
Similarly, its operating expenses were down to Rs 1,311.6 crore in June quarter, compared to Rs 2,886.7 crore in the year-ago period.
SpiceJet Chairman and Managing Director Ajay Singh said, “Flight operations were suspended for the most part of (first) quarter, and the partial resumption of flights initially and weak demand thereafter were a reminder of the significant problems that this pandemic has resulted in.”
Scheduled domestic flight services were suspended in India from March 25 to May 24 due to the lockdown. The domestic flights resumed from May 25 but in a curtailed manner.
