SpiceJet has begun cancelling 15-20 flights each day as its fleet contracts to just 12 aircraft.

Under a cash-and-carry model, the carrier has not disbursed any employee salaries since June 2026.

Three planes remain grounded because lessors have not been paid. In the quarter ended September 2025, SpiceJet posted a net loss of ₹621 crore while revenue slipped 13.4% year-on-year to ₹792 crore. The airline also spent ₹120 crore on carrying costs for its grounded fleet and another ₹30 crore on return-to-service expenses.

EBITDAR loss widened to ₹203.80 crore, and the passenger load factor sat at 84.3%. Shares closed at ₹7.68 on the BSE.