SpiceJet share price (NSE: SPICEJET) climbed almost 7% on Monday after the airline told investors it is preparing to restructure a large part of its liabilities over the next few quarters. This step is expected to strengthen its financial position.

The stock touched an intraday high of ₹37.8, its biggest gain since October 24. By 10:20 AM, the shares were up 6% at ₹37.6, outperforming the BSE Sensex, which was up just 0.14%. 

Despite today’s rally, SpiceJet shares are still down 32% in 2025, compared to an 8.5% rise in the Sensex. The company’s market value stands at ₹4,788.23 crore.

Fleet Expansion and Operational Outlook

Plans to Double Fleet by 2025

In its latest presentation, SpiceJet said it expects to double its operational fleet by the end of 2025, which will help the airline expand its network and capacity.

The company also projected strong growth in the coming quarters, expecting Available Seat Kilometres (ASKM) to rise nearly threefold. With more aircraft in use, better utilisation is expected to push down Cost per Available Seat Kilometre (CASK) and improve profitability.

SpiceJet plans to bring 8 grounded Boeing aircraft back into service by April 2026, further boosting its capacity.

Liability Restructuring in Progress

Strengthening the Balance Sheet

The airline said that a major part of its liabilities will be restructured in Q3 and Q4, which should reduce financial stress and support long-term stability. Higher capacity and a more efficient fleet are expected to improve operational performance.

SpiceJet Q2 FY26 Earnings Results: Loss Widens

Reasons Behind Higher Losses

For Q2 FY26, SpiceJet reported a net loss of ₹621.5 crore, up 35.6% YoY. The company said this was due to:

• Sharp depreciation of the rupee against the dollar
• A high number of grounded aircraft
• Airspace restrictions in certain regions
• Higher forex loss of ₹189.6 crore, compared to ₹23.7 crore last year

Chairman Ajay Singh said that limited fleet operations and rupee weakness significantly impacted quarterly performance.

Read more: Infosys Buyback: How Much Tax Will You Pay on The Buyback Amount?

Conclusion

SpiceJet’s strong share rally reflects investor optimism about the airline’s plan to restructure liabilities and expand its fleet. While financial challenges remain with losses rising and many planes still grounded, the company’s growth roadmap, improved capacity plans, and efforts to strengthen the balance sheet could support a gradual recovery.

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