News / SpiceJet eyes bigger freighter fleet as it flies back into the black in Q3

Cargo-ambitious SpiceJet said an improving operating environment, fuelled by the relaxation in Covid restrictions, has helped the Indian low-cost airline to swing into profitability in its Q3 after seven consecutive loss-making quarters.

The airline ended its October-December quarter with a net profit of Rs23.28 crore (Rs232.8m, or $3m), compared with a loss of Rs57 crore in the same period of 2020-21, on gross income that soared 43% to Rs2,679.6 crore.

Ajay Singh, chairman and MD of SpiceJet, said the improved ...