SpiceJet saw $3.08 million profit in Q3 2121

Total operating revenue increased 34% year on year, revenue at air cargo service SpiceXpress grew 17%, while turnover at the passenger business increased 23%.

Chairman and managing director Ajay Singh said: “The passenger industry witnessed the much needed turnaround in third quarter as Covid cases ebbed in the first half of the quarter, travel picked up significantly and there was finally hope that the worst was behind us. However, that changed by the second half of December as Omicron halted that recovery.

“Our performance would have been much better but was impacted by the unexpected delay in the return to service of the 737 Max, rising fuel costs and certain exceptional adjustments. I am happy to say that there are renewed signs of recovery in the passenger segment and the logistics segment continues to remain strong.”