For the June quarter (Q1 FY23), SpiceJet reported a net loss of ₹789 crore on record high fuel prices and a depreciating rupee. The revenue, however, rose to ₹2,478 crore as against ₹1,266 crore in the same quarter last year.
Other airlines’ losses are also mounting as well. AirAsia India’s loss grew 42% on a year-on-year basis to ₹2,178 crore, its revenue rose nearly 39% to ₹1,887 crore in FY22. Vistara’s loss rose by 35% on a year-on-year basis to ₹2,031 crore, while…