Spicejet Narrows Q2 Losses To Rs 428 Crore Vs Rs 835 Crore Loss A Year Ago; Check Details
Spicejet's net loss narrows in September 2023 quarter.Spicejet board also approved a fundraising plan of over Rs 2,250 crore through the issuance of equity shares to financial institutions, FIIs, HNIs and private investorsBudget carrier Spicejet on Tuesday reported a narrowing of net loss to Rs 428 crore for the second quarter ended September 2023, compared with Rs 835 crore in the year-ago period.The airline’s board also approved a fundraising plan of over Rs 2,250 crore (about $270 million) through the issuance of equity shares to financial institutions, FIIs, HNIs and private investors aimed at fortifying the airline’s financial strength and accelerating its growth trajectory.Spicejet CMD Ajay Singh said, “The July-September quarter has historically been a challenging period for the av...