Cash-strapped airline SpiceJet on Friday said it would announce its pending financial results by Dec 7, seeking to avoid a possible suspension of trading in its shares on the Bombay Stock Exchange (BSE).
The exchange warned earlier this week that SpiceJet's shares would face suspension from Dec 10 unless the airline complied with listing requirements.
The action follows the company's failure to submit financial results for the March and June 2026 quarters.
A SpiceJet spokesperson told Reuters that the audit process had taken longer than expected, delaying the financial disclosures. The airline did not specify the reasons for the prolonged audit.
According to the exchange, the proposed trading suspension will not take effect if SpiceJet completes the required filings to its satisfaction by Dec 7.
BSE also warned that a suspension would result in the freezing of securities held in the electronic accounts of the airline's controlling shareholders.
Chairman and Managing Director Ajay Singh is among the company's controlling shareholders.
As of March 31, Singh personally owned 12% of SpiceJet, while the wider controlling shareholder group held 24.2%.
The airline has secured permission from the Registrar of Companies to conduct its annual shareholder meeting for FY26 by Dec 31.
SpiceJet last published financial results in February, reporting a consolidated net loss of ₹262 crore for the October-December 2025 quarter.
The airline's domestic market share has declined sharply from nearly 15% in 2019 to just 0.6%.
Financial constraints have forced SpiceJet to reduce flights, ground aircraft and delay salary payments to several pilots.
Higher fuel costs and airspace restrictions linked to the Middle East conflict have added to its difficulties.
Meanwhile, competitors IndiGo and the Air India group together controlled more than 90% of India's domestic passenger market in September.
SpiceJet said its board would meet on Nov 18 to consider raising additional funds through shares, debt securities or other financial instruments.
The proposed fundraising comes as the airline seeks to address its financial difficulties and stabilise operations.
