SpiceJet Ltd said on Wednesday that Chief Financial Officer Sanjeev Taneja had resigned amid mounting losses and a series of mid-air incidents.
SpiceJet announced that its net loss for the three months ended June had risen to Rs 789 crore, mainly due to high fuel prices and a decline in the value of the rupee.
That compares with a net loss of Rs 458 crore in the quarter ended March 2022, which the company said was delayed due to a cybersecurity attack.
In the one-year period, it had a net loss of Rs 235.3 crore.
“Total revenue for the reported quarter was Rs 2,478 crore versus Rs 1,266 crore in the same quarter of the previous year,” the airline said in a press release.
The company also reported a loss of 4.85 billion rupees for the quarter ended March.
SpiceJet said it would raise up to $200 million. Some banks have expressed concerns about loans to the carrier.
SpiceJet chairman and chief executive Ajay Singh said the sector has witnessed one of the most severe business environments in the recent past, impacting progress and recovery in Q3FY2022.
“We are optimistic about our future and our continued recovery and to realize our plans for the future, the board of directors has ordered new capital issuance and the company will soon be in talks with investment bankers for a possible increase of up to $200 million,” he said. .