SpiceJet's booming loss

SpiceJet in mid-November reported a net loss of 837.8 Crore for the quarter ending September 30, 2022, as compared to a net loss of ₹561.7 Crore in the quarter ending 30 September 2021, as business was hit by record high fuel prices, depreciating Rupee in the traditionally weak quarter.

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Industry watchers claim that the airline missed out on cashing in on a rebound in air travel from pandemic lows, as the Directorate General of Civil Aviation in July halved the airline's approved fleet due to a string of mid-air safety lapses. Despite the fall in revenues, the airline said it has increased its number of flights by 30 per cent.