![]() The airline is yet to declare results for January-March period of 2022. In the April-December period of 2021, the airline posted a net loss of Rs 1,248 crore. It incurred net losses of Rs 316 crore, Rs 934 crore and Rs 998 crore in 2018-19, 2019-21, respectively. SpiceJet has been making losses for the last four years. On July 6, the Directorate General of Civil Aviation (DGCA) had issued a show-cause notice to SpiceJet following at least eight incidents of technical malfunction in its aircraft since June 19. In the ‘cash and carry’ model, the airline has to make daily payments to the AAI for various charges - navigation, landing, parking, and others - to operate flights.Īviation regulator DGCA had on July 27 ordered SpiceJet to operate not more than 50 per cent of its flights, which were approved for summer schedule, for a period of eight weeks. The Centre-run AAI had in 2020 put SpiceJet on a ‘cash and carry’ basis as the carrier was unable to clear its previous dues. “With this, SpiceJet will no longer remain on ‘cash and carry’ at AAI-run airports across the country and will revert to advance payment mechanism for daily flight operations,” SpiceJet said in a statement on Tuesday. On August 2, too, the stock of SpiceJet soared 5 per cent after it announced that the carrier had entered into an agreement with the Airports Authority of India (AAI), and had cleared all its outstanding principal dues to the airport regulator. As of now, SpiceJet stocks have rallied almost 6 per cent on the back of the news, as per market data. On NSE, SpiceJet shares were up by 4.06 per cent to stand at Rs 46.15. The stock opened at Rs 44.40 on the day, before settling to Rs 46.20 while writing this article. Shares of SpiceJet soared 4.05 per cent to scale Rs 46.20 during early trade on Wednesday, data on BSE showed. The spokesperson further added that the company will make “appropriate disclosures in accordance with applicable regulations”. “The company continues to be in discussions with various investors to secure sustainable financing,” a SpiceJet spokesperson was quoted as saying by CNBC TV18. Singh, who currently holds 60 per cent stake at SpiceJet, is exploring possibilities of a partial sale of the same. The big middle eastern company has expressed its in terest to buy 24 per cent stake at SpiceJet and get a seat at the board of the company, the report said.Īs per reports by ET Now and CNBC TV18, SpiceJet is also in talks with a large Indian conglomerate, which has approached the carrier’s promoter Ajay Singh for a stake sale. The weakening of the Indian rupee against the US dollar further significantly impacts airlines as our substantial cost is either dollar-denominated or pegged to the dollar," Singh said.Budget carrier SpiceJet is said to be in active talks with a middle eastern aviation company for a possible sale of stake, multiple reports said on Wednesday, August 3. "We have in the last few months tried to absorb as much burden of this fuel price rise, which constitutes more than 50% of our operational cost, as we could. ![]() ![]() The airline's CMD Ajay Singh said that aviation turbine fuel prices have gone up by more than 120 per cent since June 2021, while adding this increase in ATF is sustainable for airlines and central and state governments need to take action to reduce taxes. SpiceJet has expressed concerns over the hike in ATF prices. Stocks in news: State Bank of India, UPL, EKI Energy, NBCC and more In this regard, the carrier has joined hands with cab aggregator ‘mytaxiindia’ (MTI). For domestic airlines, ATF cost Rs 1,41,232.87 per kl in Delhi Rs 1,46,322.23 per kl in Kolkata Rs 1,40,092.74 per kl in Mumbai and Rs 1,46,215.85 per kl in Chennai. No-frills airline SpiceJet will soon offer passengers the option of booking a taxi to reach the airport at the time of ticket purchase. Market cap of the firm fell to Rs 66,720 crore on BSE.Īfter the current hike, jet fuel prices have reached an all-time high. InterGlobe Aviation stock has lost 0.23 per cent in a year and fallen 14.13 per cent this year.Ī total of 0.43 lakh shares of the firm changed hands amounting to a turnover of Rs 7.40 crore on BSE.
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