Financial Highlights

• PLF: Maintained a competitive and healthy Passenger Load Factor (PLF) of 90%, reflecting strong capacity utilisation compared to 84% in Q2 FY26 and 88% in Q3 FY25
• Revenue from operations: Increased to INR 1384 Crore in Q3 FY26 from INR 781 Crore in Q2 FY26, reflecting a 77% QoQ improvement and higher than INR 1,231 Crore in Q3 FY25
• Passenger RASK: Improved to INR 4.74 in Q3 FY26 from INR 4.04 in Q2 FY26 and higher than INR 4.63 in Q3 FY25
• Net Loss: INR 197 Crore (before Forex & exceptional items) in Q3 FY26, compared to a net loss of INR 448 Crore (before Forex & exceptional items) in Q2 FY26, an improvement of 56%
• Post Forex adjustment and one time impact of adjustment for New Labour code, net loss stood at INR 268 Crore in Q3 FY26 versus INR 635 Crore in Q2 FY26 signifying an improvement of 58%
• EBITDAR: INR 175 Crore in Q3 FY26 compared to INR (392) Crore in Q2 FY26

Key Operational Highlights

• ASKM has improved to 277 Crore in Q3 FY26 from 177 Crore in Q2 FY26, highlighting an impressive increase of 56%
• Number of passengers travelled increased to 1.9 Million in Q3 FY26 from 1.1 Million in Q2 FY26, a substantial increase of 77%
• Inducted 16 aircraft (Boeing NG and Boeing 737 Max) on wet lease, strengthening fleet and operational capability
• Completed equity allotment to Carlyle Aviation Partners and GASL, resulting in the settlement of INR 476 Crore (US $54 Million) worth of liabilities
• Commenced non-stop services to Najaf, Iraq; becoming the only Indian airline to operate non-stop flights to the holy city

Key Current Highlights

• Commenced non-stop services on the Ahmedabad-Sharjah route
• Added Imphal to the network with daily connectivity from Kolkata, Guwahati and Mumbai

GURUGRAM, February 12, 2026: SpiceJet reported strong operating momentum in the third quarter of FY26, marked by a sharp 77% jump in revenue and a significant improvement in key operating metrics. The quarter reflected the airline’s steady recovery trajectory, driven by higher capacity deployment, improved yields and disciplined network execution. During the quarter, SpiceJet’s domestic market share strengthened to 4.3% in December 2025 from 1.9% in September.

SpiceJet expanded capacity through the induction and ungrounding of aircraft, improving fleet availability and enhancing network connectivity across key domestic and international routes. These measures helped more than halve quarterly losses sequentially, even as costs were impacted by legacy grounded fleet expenses, currency depreciation, continued airspace restrictions and a one-time charge linked to new labour law provisions.

Passenger yields continued to improve, with Passenger RASK rising to INR 4.74 in Q3 FY26 from INR 4.04 in the preceding quarter. Net loss for the quarter, after adjusting for forex impact and exceptional items, stood at INR 197 crore versus INR 448 crore in the previous quarter. EBITDAR for the quarter was INR 175 crore, compared to INR (392) crore in Q2 FY26.

Operational performance remained resilient, with SpiceJet maintaining a healthy Passenger Load Factor of 90%, reflecting strong demand and efficient capacity utilisation. The airline inducted 16 aircraft (Boeing NG and 737 Max) on wetlease during the quarter, strengthening operational reliability and network reach.

As part of its ongoing balance sheet repair, SpiceJet completed the equity allotment to Carlyle Aviation Partners and GASL, resulting in the settlement of INR 476 crore (US $54 million) of liabilities.

The Board has mandated a calibrated ramp-up of fleet size to 55-60 aircraft effective the winter schedule, through a mix of wet and damp leases as well as the return to service of existing grounded aircraft. In parallel, the airline will seek to generate additional internal accruals by monetising surplus spare parts and components, further supporting liquidity and operational stability.

Network expansion also gathered pace, with SpiceJet commencing non-stop services to Najaf in Iraq, making it the only Indian airline to offer direct connectivity to the holy city. The airline launched non-stop flights between Ahmedabad and Sharjah and added Imphal to its network with daily connectivity from Kolkata, Guwahati and Mumbai, strengthening access to the North-East.

Ajay Singh, Chairman and Managing Director, SpiceJet, said, “This quarter reflects the progress we have been working steadily towards. Higher revenues, improving yields and a sharp reduction in losses demonstrate that our operational strategy is delivering results. While legacy costs and external factors continue to weigh on expenses, the core business is clearly strengthening. With more aircraft in service, a sharper network focus and continued balance sheet repair, we are building a more resilient airline, step by step.”

About SpiceJet:
SpiceJet is India's favourite airline that has made flying affordable for more Indians than ever before. SpiceJet is an IATA-IOSA certified airline that operates a fleet of Boeing 737s & Q-400s and is one of the country's largest regional players operating multiple daily flights under UDAN or the Regional Connectivity Scheme. The majority of the airline's fleet offers SpiceMax, the most spacious economy-class seating in India.