SpiceJet, India’s oldest private airline, is rapidly deteriorating operationally and financially. With capacity sharply reduced, the carrier has begun furloughs and is delaying salaries for employees by up to two months or more. Unpaid dues including GST, TDS, and PF are also accumulating, deepening uncertainty for staff and stakeholders as the airline hunts for a lifeline.
IndiGo’s December quarter is usually its strongest, but disruptions tied to December chaos may pressure Q3 results. The outlook could worsen as SpiceJet remains unstable, with analysts warning it could slip into losses if IndiGo cuts profits by nearly one-third. Together, the two carriers face a tougher operating and demand environment.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
The Delhi High Court has reserved its decision after taking time on SpiceJet’s review petition filed by the airline and its head, Ajay Singh. They want to challenge an earlier ruling that ordered a Rs 144 crore deposit in their dispute involving Kalanithi Maran and Kal Airways. The case is now awaiting the court’s next call.
A SpiceJet aircraft and an Akasa Air flight collided on the ground at Delhi’s Indira Gandhi International Airport. The impact damaged the right winglet of the SpiceJet plane and the horizontal stabiliser of the Akasa Air aircraft. While passengers on the Akasa flight were safe, the Directorate General of Civil Aviation has started an investigation to determine what led to the collision.
SpiceJet plans to temporarily furlough 150 cabin crew members for three months, citing a lean travel season and a reduced fleet size. The airline says the move is meant to safeguard long-term stability while preserving health benefits and earned leave. SpiceJet is also under enhanced DGCA surveillance after a special audit in August 2024.
SpiceJet’s recent numbers raise fresh concerns despite last year’s INR 3,000 crore funding. In the April–June quarter, usually its strongest period, the airline posted an INR 240 crore loss. Free cash dropped from INR 700 crore in March to around INR 300 crore in June, while revenue fell 40% between March and June. Can it turn around in time?
Never miss a story
Set alerts for the topics and sources you care about. Download Beige for free.
Swipe through stories, personalise your feed, and save articles for later — all on the app.