SPICEJET LTD.

Operates scheduled passenger air transport services on domestic and international routes from India with a Boeing 737 and Q-400 fleet, plus a smaller freighter and logistics business. In Q3 FY26 (quarter ended December 2025), air transport services contributed ₹1,364.855 crore of segment revenue, freighter and logistics services ₹42.542 crore, and others ₹0.885 crore. The airline is targeting a fleet of 60 aircraft by October-December 2026 through wet and damp leases and bringing grounded planes back into service, with international network additions including Imphal, Fujairah, Najaf, Bangkok and Sharjah. Capacity (ASKM) grew 56% sequentially in Q3 FY26, and revenue from operations rose 77% sequentially to ₹1,384 crore. The airline reported a net loss of ₹268 crore for Q3 FY26, and the statutory auditor flagged a material going-concern uncertainty citing accumulated losses of ₹89,054 million. Other operating expenses (including fuel, leasing and maintenance) made up 95% of FY25 revenue, with employee costs at 12.4% and depreciation at 12.1%.