SpiceJet is making headlines because it has started making money again! In the last three months of 2024, the airline earned ₹26 crore, a big turnaround from a loss of ₹300 crore a year before. Their total income jumped by 35%, reaching ₹1,651 crore, thanks to more passengers flying and better operations.
Ajay Singh, the Chairman and Managing Director, said this performance shows how resilient the company is and highlights their focus on fixing financial issues. For the first time in ten years, SpiceJet’s worth is now positive, which is a huge step towards their goal of becoming stronger.
The airline also raised ₹3,000 crore through a stock sale, attracting interest from global investors. This money has helped SpiceJet pay off old debts, expand their fleet, and grow their operations faster.
SpiceJet carried a lot of passengers, with an impressive 87% of seats filled, and they made ₹4.57 for each passenger on average. They spent ₹170 crore to get their grounded planes back into the air.
However, shares of SpiceJet have not performed well lately, dropping 29.65% over the past year and 20.91% over the last three years. They are lagging behind their competitors and market indices like Sensex and Nifty50.
Leave a Reply