Spicejet Q1 loss widened 23% to RS 729 Crore

New Delhi: Highly affected by the second Covid wave, Spicejet on Friday reported the loss of Rs 729 Crore in April-June, 2021 – 23% more than the loss of RS 593 Crore which was installed in the previous fiscal.
Low airline revenues in Q1 are Rs 1,266 Crore, up from RS 705 Crore in the same period last year.
The share price closed 0.6% higher at Rs 71.9 at BSE on Friday.
ARM Freighter Airlines, SpiceXpress posted a leap of 285% in its income to Rs 473 Crore in Q1 because of Against RS 166 Crore which was reported in the same quarter last year.
Spicejet Chairperson and Managing Director (CMD) Ajay Singh said he was “in the process of working the SpiceXpress …
It will also allow SpiceXpress to increase capital to trigger rapid growth.” Based on the recovery on the journey that was seen the second wave, Singh said he was “sure that Spicejet would recover lost soil quickly because we continuously improve our operations to add new stations and flights and much better than this time.” In his notes with the account, Singh acknowledged the financial difficulties faced by airlines.
“The company has a negative net worth of June 30, 2021 …
payments are suspended to various parties, including lessor and vendors and other contributions for legal authorities …
Management believes that the company will be able to raise funds as needed, to fulfill its obligations at maturity .
This condition shows uncertainty that can create doubts about the company’s ability to continue as a concern …
management of views that are the basis of concerns accordingly.
The auditors have included ‘material uncertainty relating to interested paragraphs’ in their review report, “said Singh.
“The Q400 aircraft manufacturer initiated claims against the company of Rs 320 Crore for declarations, damage to liquidated, interest and costs related to alleged violations, and termination of certain purchasing agreements for certain uncontrolled aircraft,” he added.
LCC said he was in talks with Boeing to “recover damage” for the B737 Max aircraft on earth.
“The company continues to cause a variety of costs for reasons and the inability of Max Boeing 737 aircraft to carry out income operations for the past two years for the past two years A statement.