SpiceJet loss widens to ₹789 crore in Q1, CFO resigns – Times of India

MUMBAI/NEW DELHI: SpiceJet on Wednesday reported widening of net loss to Rs 789 crore in the June quarter as high fuel prices and rupee depreciation adversely impacted the budget carrier. Amid the financial turmoil, the airline plans to raise $200 million. Also, DGCA on Wednesday deregistered two more Boeing 737 planes of SpiceJet.
The airline has also delayed payment of salaries to staff for the second straight month. However, SpiceJet said it has started crediting salaries from today and like the previous month, “salary will be credited in a graded format”.
In the independent auditor’s review report of the airline’s latest quarterly results, it has been mentioned that there are indications of material uncertainties “that may cast significant doubt about the group’s ability to continue as a going concern”. The airline also said that its chief financial officer Sanjeev Taneja has resigned. It had a net loss of Rs 729 crore in the quarter ended June 2021.

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