SpiceJet Crisis Deepens, 20 Daily Flight Cancellations As Fleet Shrinks To Just 12 Aircraft Amid Mounting Dues

Mumbai: The financial struggles of cash-strapped airline SpiceJet are intensifying as it cancels 15-20 flights daily due to unpaid dues, sharply reducing its fleet to just 12 aircraft. The carrier, which schedules around 65 flights daily, has faced frequent cancellations and delays of up to five hours, causing significant operational instability and passenger inconvenience.

Unpaid leasing dues to aircraft lessors, oil companies, airport operators, and ground-handling agencies have grounded three planes, further straining the airline's ability to maintain a regular flight schedule. The carrier operates on a cash-and-carry basis, requiring upfront payments for essential services rather than credit arrangements.

This financial strain has also affected employees, with unpaid salaries since June 2026. SpiceJet reported a net loss of Rs 621 crore in the September 2025 quarter, down from Rs 458 crore in the same period the previous year, highlighting persistent operational difficulties and rising expenses. Revenue declined 13.4 percent to Rs 792 crore from Rs 915 crore, and the airline recorded an operating loss of Rs 297 crore, including costs associated with grounded aircraft and return-to-service expenses.

Despite these challenges, SpiceJet's passenger load factor stood at 84.3%, with passenger revenue per available seat kilometre improving to Rs 4.04 from Rs 3.91. However, the airline's shares fell 0.65% to Rs 7.68 on the BSE, reflecting ongoing investor concerns about its financial health and prospects for recovery amidst the ongoing conflict in West Asia, which has driven up aviation turbine fuel (ATF) costs.