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COVID-19: SpiceJet posts a loss in Q4 on weak demand & suspension of flight operations

COVID-19: SpiceJet posts a loss in Q4 on weak demand & suspension of flight operations

Jul 29, 2020, at 10:14 pm

Kolkata/UNI: SpiceJet, India’s favourite airline and the biggest air cargo operator, reported a net loss of INR 807.1 crore in the fourth quarter of FY20 (that includes a non-cash loss of INR 473.4 crore due to forex loss on restatement of lease liability due to Ind-AS 116) against a profit of INR 56.3 crore in the same quarter of the previous year as business was adversely impacted due to the COVID-19 pandemic and the nation-wide lockdown that resulted in suspension of flight operations.