SpiceJet , one of India's leading airlines, has taken a significant step in enhancing employee ownership and engagement. The company's Board of Directors has approved the allotment of 71,500 new equity shares under its Employee Stock Option Scheme (ESOS) 2017, as disclosed in a recent regulatory filing.

Key Details of the Allotment

Impact on Share Capital

This allotment has resulted in a marginal increase in SpiceJet's total issued share capital, which now stands at Rs. 14,13,59,87,670.00. The newly issued shares are identical in all respects to the existing equity shares of the company and have been issued in dematerialized form.

Employee Stock Option Scheme Details

The allotment was made under the SpiceJet Employee Stock Option Scheme – 2017, which was initially filed with the stock exchange on May 21, 2018. This scheme is designed to provide employees with an opportunity to share in the company's growth and success, aligning their interests with those of the shareholders.

Listing and Trading

The newly allotted shares will be listed on the BSE Limited, where SpiceJet's shares are currently traded. The shares have been issued at an exercise price of Rs. 10.00 per share, which is equal to their face value.

Corporate Governance and Transparency

This allotment demonstrates SpiceJet's commitment to corporate governance and transparency. The company has promptly disclosed the details of the allotment, including the number of shares, distinctive numbers, and the impact on the total issued share capital, in compliance with regulatory requirements.

Recent Developments at SpiceJet

In addition to this share allotment, SpiceJet has recently made significant strides in expanding its operations. The airline has added five more Boeing 737 aircraft to its fleet, including one Boeing 737 MAX, bringing its operational fleet to 35 aircraft. This expansion has allowed SpiceJet to increase its daily flights from 100 in September to 176, catering to the surge in passenger traffic during the festive and holiday season.

Debojo Maharshi, Chief Business Officer of SpiceJet, commented on the expansion, stating, "SpiceJet's winter expansion is a reflection of the strong demand in the market and our readiness to meet it. With 15 new aircraft joining our fleet and daily flights surging to 176, we are not only expanding our footprint but also reinforcing our commitment to reliable, affordable, and convenient air travel for millions of passengers."

These developments, including the employee stock option allotment and fleet expansion, underscore SpiceJet's focus on growth, employee engagement, and enhancing shareholder value in the competitive aviation sector.

SpiceJet , one of India's leading airlines, has reported a net loss of ₹635.42 crore for the second quarter of fiscal year 2026, as the carrier grapples with fleet expansion costs and ongoing restructuring efforts. The results, announced on November 12, 2025, reflect the challenges faced by the airline during a traditionally weak travel season.

Financial Performance

The airline's Q2 FY2026 loss widened compared to the ₹447.54 crore loss reported in the same quarter last year. Excluding foreign exchange fluctuations, the net loss stood at ₹447.70 crore, slightly higher than the ₹424.26 crore loss in Q2 FY2025.

SpiceJet's EBITDAR (earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs) excluding forex impacts was negative ₹203.80 crore, compared to negative ₹58.87 crore in the corresponding quarter of the previous year.

Operational Highlights

Despite the financial challenges, SpiceJet maintained a healthy passenger load factor of 84.3%, demonstrating strong capacity utilization during an otherwise lean travel season. The airline's passenger revenue per available seat kilometer (RASK) improved to ₹4.04, up from ₹3.91 in Q2 FY2025.

Fleet Expansion and Restructuring

During the quarter, SpiceJet finalized lease agreements for 19 aircraft and ungrounded two aircraft, returning them to active service. This fleet expansion is part of the airline's strategy to double its operational fleet and triple available seat kilometers (ASKM) in the upcoming winter schedule.

The company also made significant progress in its restructuring efforts:

• Secured a $89.5 million liquidity boost through a settlement with Carlyle Aviation
• Completed full payment of $24 million to Credit Suisse
• Received consecutive credit rating upgrades from Acuité (BB Stable) and CRISIL (A4+)

Management Commentary

Ajay Singh, Chairman and Managing Director of SpiceJet, commented on the results: "The September quarter was a period of consolidation and groundwork for our next phase of growth. While the results reflect short-term costs related to fleet revival and expansion, these are strategic investments that will start yielding results from the current quarter onward."

Singh added, "With aircraft additions already underway and our network expanding rapidly, SpiceJet is now on a clear trajectory towards stronger operational and positive financial performance in the second half of the year."

Future Outlook

Looking ahead, SpiceJet is focusing on:

1. Expanding its winter schedule to operate 250 daily flights, more than double its summer schedule
2. Launching new routes, including non-stop flights to Najaf, Iraq
3. Strengthening its management team with the appointment of Sanjay Kumar as Executive Director and Arjun Das Gupta as Vice President of Sales & Ancillary Revenue

As the airline industry enters the peak travel season, SpiceJet expects to see improved operational momentum and financial performance in the coming quarters.

Conclusion

While SpiceJet's Q2 FY2026 results reflect the challenges of fleet expansion and restructuring, the airline's management remains optimistic about its future prospects. The company's focus on network expansion, improved operational efficiency, and strategic appointments may position it for a stronger performance in the second half of the fiscal year.