Whalesbook
Ab suno, company ka kehna hai ki "Humare aircraft safety aur maintenance mein koi compromise nahi, sab funds available hain." Lekin haan, yeh admit kiya hai ki employees ko "phased manner" mein salary de rahe hain. Iska matlab cash flow mein thodi problem toh hai. Abhi roz approx 125 flights operate kar rahe hain. Inka market share 3.8% hai, jo IndiGo jaise competitors se bahut kam hai.
Aur ye jo ₹3,000 Crore September 2024 mein QIP se raise kiye the na, lagta hai woh sab loans chukane mein hi chale gaye, growth ke liye paise nahi bache. May 2026 tak inki market value around ₹1,900-₹2,000 Crore reh gayi hai, jo pehle se kaafi kam hai. Share bhi ₹12.21 ke aas paas chal raha hai, apne 52-week high se kaafi neeche. P/E ratio toh negative mein hai, matlab company lagatar loss mein chal rahi hai. Aur toh aur, 35 tak aircraft (jo total 56 the) late 2025 tak grounded the engine problems aur supply chain issues ki wajah se. Abhi around 21 planes operational hain.
Aisa nahi hai ki sirf SpiceJet hi mushkil mein hai. Poori Indian aviation industry FY2026 mein ₹17,000–18,000 Crore ka loss expect kar rahi hai. Jet fuel ke badhte prices (jo costs ka 55-60% ban rahe hain) aur weak rupee ki wajah se sabki expenses badh gayi hain. IndiGo ka market share 64% se zyada hai, aur Air India bhi tezi se badh raha hai. SpiceJet ko bhi Q3 FY2026 mein ₹261.38 Crore ka loss hua tha. Ek aur baat, Chairman Ajay Singh ko late 2025 mein $4 million interest-free payment mila, jisse governance par bhi sawal uth rahe hain.
To overall picture dekha jaye toh SpiceJet ke liye aage ka rasta kaafi mushkil lag raha hai. Company plane theek karne aur aur planes lane ki baat kar rahi hai, par yeh sab paiso ki problem solve hone par depend karta hai. Market bahut competitive hai, aur investors ka confidence bhi jeetna hoga.