SpiceJet reports net profit of INR 1.9bn for June quarter

SpiceJet reported a net profit of INR 1.9bn for the second quarter April-June 2023 (Q2) and a net loss of INR 0.62bn for the March quarter of FY23. The airline announced the earnings for the two quarters together. The airline noted that fall in the Aviation Turbine Fuel (ATF) seen during April-June 2023, directly contributed to its profit. The airline’s Aviation turbine fuel cost halved when compared on year during the quarter. ATF prices during April-June fell to around Rs 89,303 per Kilo Litre in June 2023, when compared to Rs 1,41,233/kl in the same period last year. SpiceJet had