Spicejet Ltd

SpiceJet announced that in a significant step towards revitalising its fleet and enhancing operational efficiency, SpiceJet'has'received'the'first'two'of'its'overhauled'engines'from'global'MRO'provider'StandardAero.'These'include'a'CFM'LEAP-1B'engine'that'powers'the'Boeing'737'MAX,'overhauled'at'StandardAero'fs'Houston,'USA'facility,'and'one'Q400'engine,'received'from'StandardAero'fs'Singapore'facility. The'airline'has'also'successfully'ungrounded'another'Boeing'737'NG'aircraft,'which'returned'to'active'service'last'month,'reinforcing'SpiceJet'fs'commitment'to'restoring'fleet' capacity'in'a'structured'and'phased'manner.' As'part'of'its'broader'fleet'revival'plan,'a'total'of'17'engines'were'sent'for'overhaul.'With' the'receipt'of'the'first'two'engines,'SpiceJet'expects'a'steady'flow'of'additional'engines'in' the'coming'months.' Six'CFM'LEAP']1B'engines'were'sent'to'StandardAero'fs'Houston'facility,'while'seven' Q400'engines'had'been'sent'to'its'Singapore'facility.'Additionally,'four'engines'have'been' sent'to'Carlyle'Aviation'to'support'the'revival'of'grounded'Boeing'737'NG'aircraft.'Powered by Capital Market - Live

On 24 June 2025, CRISIL Ratings has published an update stating 'CRISIL D - Issuer Not Cooperating'. We would like to clarify that this does not reflect the current credit standing of the company. As on date, SpiceJet (the company) is rated CARE BB-; Stable / CARE A4 by CARE Ratings, which remains valid. This rating highlights the company's adequate liquidity position and anticipates an operational turnaround supported by recent fundraises and the promoter's long-standing experience in the industry. The Company also maintains a consistent track record of efficiently utilizing its operational fleet. It may also be noted that the CRISIL rating was linked only to a non-fund-based facility of ₹220 crore from Indian Bank, which has since been substantially reduced to Rs 9.02 crore as of March 31, 2025. The facility no longer holds material significance in the Company's overall banking exposure. We reaffirm that the company continues to maintain its credit discipline and positive banking relationships.Powered by Capital Market - Live

However, revenue from operations fell 13.4% year on year to Rs 1,360.87 crore in the fourth quarter of FY25. EBITDA stood at Rs 526.20 crore in Q4 FY25, up 36.10% as against Rs 386.60 posted in Q4 FY24. The company EBITDAR of Rs 689.90 crore in the fourth quarter of FY25, up 11.83% year on year. Total passenger revenue per available seat kilometer (RASK) stands at Rs 5.32. Passenger Load Factor (PLF) stood at an impressive 88.1%. In Q4 FY25, the Promoter Group of SpiceJet completed an equity infusion of Rs 500 crore, including the final tranche of Rs 294.09 crore during the quarter. As part of its summer 2025 schedule, the airline launched 24 new domestic flights and expanded its network by adding three new destinations-Tuticorin, Porbandar, and Dehradun. Additionally, SpiceJet successfully renewed its prestigious IATA Operational Safety Audit (IOSA) certification, reinforcing its commitment to global safety standards. Meanwhile, the company has entered into a term sheet with Carlyle Aviation Management (CAML) to restructure aircraft lease obligations amounting to $121.18 million as of 31 March 2025. The agreement is aimed at optimizing the airline's capital structure and improving liquidity, as the company continues efforts to streamline operations and strengthen its financial position. Ajay Singh, Chairman and Managing Director, SpiceJet, said, 'As we share our quarterly and annual performance today, our thoughts are with those affected by the tragic Air India crash in Ahmedabad. This heartbreaking tragedy has deeply affected us all, and our thoughts are with the families and loved ones of those lost in this devastating crash. The entire aviation community stands together in this moment of grief. SpiceJet has delivered a strong set of results, marking a significant turnaround in our operational and financial performance. Posting a profit for the second consecutive quarter and for the full financial year after seven years is a reflection of the tireless efforts of our team, the continued trust of our passengers, and the resilience of our brand. With a strengthened balance sheet, renewed investor trust and continued network expansion, SpiceJet is well positioned for sustainable growth. While the revival of our grounded fleet has taken longer than anticipated due to complex global supply chain and engine overhaul challenges, momentum is now clearly building. Our partnerships with world class OEMs and MROs like StandardAero and Carlyle Aviation are bearing fruit, and engine overhauls are underway. With overhauled engines now returning, we expect a steady rampup in operational capacity in the weeks ahead.' SpiceJet is Indiaʹs favourite airline that has made flying affordable for more Indians than ever before. SpiceJet is an IATA and IOSA certified airline that operates a fleet of Boeing 737s & Q400s and is one of the country's largest regional players operating multiple daily flights under UDAN or the Regional Connectivity Scheme. The majority of the airlineʹs fleet offers SpiceMax, the most spacious economy-class seating in India Powered by Capital Market - Live

Net profit of SpiceJet rose 168.91% to Rs 341.89 crore in the quarter ended March 2025 as against Rs 127.14 crore during the previous quarter ended March 2024. Sales declined 16.08% to Rs 1395.97 crore in the quarter ended March 2025 as against Rs 1663.53 crore during the previous quarter ended March 2024. For the full year,net profit reported to Rs 62.77 crore in the year ended March 2025 as against net loss of Rs 422.83 crore during the previous year ended March 2024. Sales declined 25.15% to Rs 5073.72 crore in the year ended March 2025 as against Rs 6778.96 crore during the previous year ended March 2024. ParticularsQuarter EndedYear EndedMar. 2025Mar. 2024% Var.Mar. 2025Mar. 2024% Var. Sales1395.971663.53 -16 5073.726778.96 -25 OPM %5.23-14.13 --8.70-9.50 - PBDT508.09299.44 70 706.72329.40 115 PBT341.74126.87 169 61.93-423.72 LP NP341.89127.14 169 62.77-422.83 LP Powered by Capital Market - Live

SpiceJet will hold a meeting of the Board of Directors of the Company on 13 June 2025.Powered by Capital Market - Live

SpiceJet today flagged off its Haj 2025 operations with the inaugural flight departing from Gaya to Medina, marking the start of the sacred pilgrimage for thousands of Indian pilgrims. The airline will operate a total of 45 Haj flights in the first phase, connecting Gaya, Srinagar, Guwahati, and Kolkata to Medina and Jeddah. The first phase of operations will run until 29 May 2025, with flights from Guwahati to Medina beginning 03 May, Srinagar to Medina from 04 May, and Kolkata to Jeddah from 16 May. The return leg of Haj operations is scheduled between 13 June and 11 July 2025. SpiceJet is facilitating the travel of approximately 15,500 pilgrims this year, an 18% increase from the 13,000 pilgrims carried in 2024, further underlining the importance of Haj operations as a significant revenue generator for the airline. In 2024, SpiceJet operated 102 Haj flights from seven Indian cities including Srinagar, Gaya, Guwahati, Bhopal, Indore, Aurangabad, and Vijayawada, generating a revenue of Rs 209 crore. To enhance the travel experience, SpiceJet has inducted two wide-body Airbus A340 aircraft, each capable of accommodating 324 passengers. These aircraft will operate on routes from Srinagar and Guwahati to Medina and from Kolkata to Jeddah. A 189 seater Boeing 737 aircraft has been deployed on the Gaya-Medina route. Powered by Capital Market - Live

SpiceJet announced the launch of its daily non-stop flights connecting Delhi and Kathmandu starting 10 May 2025. This marks SpiceJet's first new international destination since its successful Qualified Institutional Placement (QIP). Flight SG 41 will depart from Delhi at 8:10 am (local time) and land in Kathmandu at 9:55 am (local time). The return flight, SG 42, will depart from Kathmandu at 10:55 am (local time) and arrive in Delhi at 1:10 pm (local time). SpiceJet will operate its Boeing 737 aircraft on this route.Powered by Capital Market - Live

SpiceJet announced the successful renewal of its IATA Operational Safety Audit (IOSA) certification, a globally recognised benchmark for operational safety. This achievement reaffirms SpiceJetʹs unwavering commitment to maintaining the highest safety and operational standards. The successful renewal of the IOSA certification is valid until March 2027. Powered by Capital Market - Live

As part of the agreement, Willis Lease has withdrawn its insolvency case against SpiceJet, closing yet another chapter in the airline's ongoing efforts to strengthen its financial foundation. This settlement follows a series of strategic agreements SpiceJet has secured in recent months, supported by an Rs 3,000 crore infusion through a qualified institutional placement (QIP) in September 2024 and an additional Rs 294.09 crore infusion by promoter Ajay Singh. These funds have significantly strengthened SpiceJet's financial position, facilitated the resolution of outstanding disputes, and allowed the airline to focus on operational growth. Ajay Singh, chairman and managing director, SpiceJet, said: 'This successful settlement with Willis Lease reflects the positive impact of our financial restructuring strategy. We deeply appreciate the continued support of our partners and stakeholders as we work towards building a stronger and more resilient SpiceJet.' SpiceJet is a low-budget air carrier. The airline operates a fleet of Boeing 737s, Q-400s, & freighters and is the country's largest regional player operating multiple daily flights under UDAN, or the Regional Connectivity Scheme. The majority of the airline's fleet offers SpiceMax, the most spacious economy class seating in India. The company reported a standalone net profit of Rs 24.96 crore in Q3 FY25 as compared with a net loss of Rs 301.45 crore in Q3 FY24. Revenue from operations fell 35.33% to Rs 1231.06 crore in Q3 FY25 as compared with Rs 1,903.57 crore in Q3 FY24. Powered by Capital Market - Live

SpiceJet today announced the launch of 24 new domestic flights as part of its Summer 2025 schedule. The airline is expanding its network by adding three new destinations - Tuticorin, Porbandar, and Dehradun - while introducing new routes to enhance connectivity across the country. The airline will commence operations on these new routes in a phased manner from 30 March 2025, with bookings now open. Tuticorin will be connected to Chennai and Bengaluru, with a daily direct flight to Bengaluru and twice-daily flights to Chennai, offering passengers the convenience of same-day return travel. This summer, travellers from Ahmedabad, Bengaluru, Delhi and Mumbai will enjoy seamless access to the picturesque and cool retreat of Dehradun, with direct SpiceJet flights connecting them to the serene foothills of the Himalayas. Porbandar will be exclusively connected to Mumbai with a non-stop flight operating twice a week (Tuesdays and Thursdays) from 01 April 2025. Further expanding its domestic footprint, SpiceJet will introduce new flights on the Ahmedabad-Srinagar and Pune-Varanasi sectors while also reconnecting Bengaluru with Goa and Pune with Chennai, offering passengers greater travel options.Powered by Capital Market - Live