Hyderabad: Low-cost carrier SpiceJet's Chief Monetary Officer (CEP) Sanjeev Taneja resigned on Wednesday amid widening losses and a rise in in-flight incidents. The low-cost airline reported a loss of Rs 789 crore for the quarter that ended June 30. In the same quarter a year ago, it had seen losses of Rs 729 crore, as the carrier's business was severely impacted by record high fuel prices and a depreciating rupee.
"Total revenue for the reported quarter was Rs 2,478 crore as against Rs 1,266 crore in the same quarter of the previous year," the airline said in a release. SpiceJet Chairman and Managing Director Ajay Singh said the industry was witnessing one of the most severe operating environments in the recent past, which impacted the progress and recovery made in Q3FY2022.
Also read: SpiceJet reports net loss of Rs 593 crore in April-June quarter
"We are optimistic about our future and our continued recovery and in order to achieve our future plans the Board has mandated fresh capital issuance and the company will be soon engaging with investment bankers for a potential raise of up to USD 200 million," he said. This development comes on the same day when Aviation regulator DGCA deregistered two more Boeing 737 planes of SpiceJet following non-payment of dues to lessors.
With the latest deregistration, a total of six Boeing 737 aircraft of the budget carrier have been deregistered in August. Boeing 737-800 aircraft VT-SPU and Boeing 737-900ER aircraft VT-SGQ were deregistered under IDERA on August 31, said a senior official at the Directorate General of Civil Aviation (DGCA). (With Agency inputs)
