SpiceJet Crisis Deepens, 20 Daily Flight Cancellations As Fleet Shrinks To Just 12 Aircraft Amid Mounting Dues

Mumbai: Financial troubles at SpiceJet are worsening, with the cash-strapped airline reportedly cancelling 15–20 flights daily as unpaid dues to service providers disrupt operations. Its fleet has reportedly shrunk to just 12 aircraft, raising fresh concerns over operational stability and passenger inconvenience.

The airline currently schedules around 65 flights daily, but frequent cancellations and delays of three to five hours have left passengers facing considerable uncertainty.

Mounting Payment Pressure

According to sources, SpiceJet is struggling to clear outstanding payments to aircraft lessors, oil companies, airport operators and ground-handling agencies.

Three aircraft remain grounded because of unpaid leasing dues, further restricting the airline's ability to maintain regular flight schedules.

The carrier reportedly operates on a cash-and-carry arrangement, requiring upfront payments for essential services rather than allowing credit.

Financial difficulties have also affected employees, with sources claiming that salaries have remained unpaid since June 2026.

Losses Add Pressure

SpiceJet's financial position remains challenging, reflecting persistent operational difficulties and rising expenditure.

For the September 2025 quarter, the airline reported a net loss of Rs 621 crore, compared with Rs 458 crore in the corresponding period a year earlier.

Revenue declined 13.4 percent to Rs 792 crore from Rs 915 crore, highlighting continued pressure on its business.

The airline recorded an operating loss of Rs 297 crore, including Rs 120 crore in grounded aircraft carrying costs and Rs 30 crore in return-to-service expenses.

Its EBITDAR loss, excluding foreign exchange impact, widened to Rs 203.80 crore from Rs 58.87 crore previously.

SpiceJet attributed the weak performance to dollar-denominated obligations, grounded aircraft expenses and airspace restrictions that increased operating costs.

Despite these challenges, passenger load factor stood at 84.3%, while passenger revenue per available seat kilometre improved to Rs 4.04 from Rs 3.91.

Meanwhile, SpiceJet shares closed 0.65% lower at Rs 7.68 on the BSE, reflecting continued investor caution over the airline's financial health and operational recovery prospects.

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