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Shares of SpiceJet fall as much as 6.3 per cent after the Indian airline posted a record quarterly loss due to high fuel prices and a weaker rupee during the July-September period.
SpiceJet,controlled by media baron Kalanithi Maran’s Sun Group,said late on Thursday its net loss widened to 5.59 billion rupees for its fiscal second quarter ended September 30,compared with a net loss of 1.64 billion rupees in the same period last year.
Indian airlines have been struggling. Last month Jet Airways also reported a record quarterly loss for the three months ended September 30.
SpiceJet shares are down 4 per cent at 10.15 am,under-performing a 0.4 per cent fall in the Sensex.
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