SpiceJet is planning a major restructuring of its liabilities in the second half of FY26, aiming to strengthen its balance sheet, the airline said in its latest investor presentation. The move comes amid a series of positive developments, including the settlement of outstanding dues, an improved credit rating, and the signing of new aircraft leases that will double its operating fleet in the upcoming winter schedule.
The airline said the restructuring, expected to be completed in Q3 and Q4, will support revenue growth and improve unit costs through higher capacity and better aircraft utilisation, ultimately lifting profitability.
However, SpiceJet’s financial performance remained under pressure in Q2FY26. The airline reported a consolidated net loss of Rs 635 crore, up 42 per cent from the same period last year, due to adverse foreign exchange movements. Revenue from operations fell 14 per cent to Rs 792 crore, affected by aircraft grounding costs, rupee depreciation, and the closure of Pakistan airspace.
Fleet And Market Share
The airline’s operating fleet remained unchanged at 19 active aircraft during the September quarter, leading to a dip in its domestic market share from 3.2 per cent in January to 1.9 per cent. Looking ahead, SpiceJet expects its investments in fleet revival to start yielding results in the third quarter. Chairman Ajay Singh said the airline is on a clear path toward stronger operations and positive financial performance in the second half of the year.
Following the announcement, SpiceJet shares rose over 5 per cent to Rs 37.40 on November 17, after gaining more than 12 per cent over the past month. The stock, however, remains down more than 35 per cent for 2025. |
