Spicejet registers a profit of 23 crores in Q3

Spicejet has recently released its quarter three results. It has posted a profit of 23 crores in Q3. In its previous Q3 of the previous fiscal year, the airline suffered a loss of 57 crores. CMD of the airline, Ajay Singh said: “I am happy that SpiceJet reported a profit in Q3 FY2022 driven by excellent logistics operations, rebound in passenger traffic and various accommodations from aircraft manufacturer and lessors. Our performance would have been much better but was impacted by the unexpected delay in the return to service of the 737 MAX, rising fuel costs, and certain exceptional adjustments… there are renewed signs of recovery in the passenger segment and the logistics segment continues to remain strong”. Its revenue increased by 42% from 1,857 crores to 2,679 crores.