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Shares of budget carrier SpiceJet surged over 7% in morning trade on Tuesday following the company's announcement of a significant increase in standalone profit for the January-March quarter of the 2023-24 fiscal year.

SpiceJet shares soar 7% on profit surge

July 16, 2024, 12:03 PM - 2 min read

On Monday, SpiceJet reported a substantial rise in standalone profit to Rs 119 crore for the January-March quarter of 2023-24, up from Rs 16.85 crore in the same quarter the previous year. Despite the profit surge, revenue from operations during the quarter declined by 20% to Rs 1,719.37 crore, compared to Rs 2,144.85 crore in the fourth quarter of the fiscal year ending March 31, 2023, according to a regulatory filing.

The Pakyong Airport is the first greenfield airport in Northeast India and the sole airport in Sikkim, inaugurated by Prime Minister Narendra Modi on September 24, 2018.

Pakyong Airport in Sikkim takes flight again after six-month hiatus

April 2, 2024, 12:09 PM - 2 min read

Flight services at Pakyong Airport were suspended six months ago due to operational issues.

SpiceJet chief Ajay Singh along with Busy Bee Airways have put in a bid for bankrupt Go First

SpiceJet along with Busy Bee Airways submit bid for bankrupt Go First

February 16, 2024, 06:05 PM - 2 min read

"SpiceJet's role as the operating partner for the new airline involves providing essential staff, services, and industry expertise. This collaboration is anticipated to generate synergies between the two carriers, leading to improved cost management, revenue growth, and a strengthened market position within the Indian aviation industry," the release said.

As part of cost-cutting measures aimed at sustaining investor interest, SpiceJet will reduce around 15% of its workforce

SpiceJet to lay off 1,400 employees amid financial turbulence

February 12, 2024, 11:17 AM - 2 min read

The airline's salary bill, amounting to Rs 60 crore, has posed a significant financial burden, with reports indicating overdue salary payments for several months, leaving many employees awaiting their January remuneration.

SpiceJet shares soar 7% on profit surge

Pakyong Airport in Sikkim takes flight again after six-month hiatus

SpiceJet along with Busy Bee Airways submit bid for bankrupt Go First

SpiceJet to lay off 1,400 employees amid financial turbulence

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