In what will perhaps go down as the toughest period in India’s aviation history, the country’s two listed airlines, Indigo Airlines and SpiceJet, posted huge losses in the June 2020 quarter. IndiGo’s consolidated loss of ₹2,844 crore was its highest ever, while SpiceJet’s consolidated loss of ₹601 crore was among the largest it has posted so far. This is in stark contrast to the profits of ₹1,203 crore posted by IndiGo and ₹263 crore by SpiceJet in the year-ago period. SpiceJet reported its Q1 numbers on September 15 while IndiGo declared its Q1 numbers on July 29.
SpiceJet’s losses in the June quarter would have been higher by ₹141 crore, had it not accounted for ‘other income’ towards claims of reimbursement from Boeing for the grounding of its MAX aircraft.
The spread of Covid-19 and the consequent lockdown on flights meant that both SpiceJet and IndiGo flew passengers for just