Spicejet Limited · BSE:SPICEJET
Spicejet — Q3 FY26 Earnings Presentation
27 slides from Spicejet's earnings presentation, Feb 13, 2026
Slide 1: Cover letter to BSE: Investor Presentation
February 13, 2026 Department of Corporate Services, BSE Limited, Phiroz Jeejeebhoy Towers, Dalal Street, Mumbai – 400001 Reference: Scrip Code: 500285 and Scrip ID: SPICEJET Subject: Investor Presentation Dear Sir/Madam, Please find enclosed herewith the updated Investor Presentation on the unaudite
Slide 2: Investor Presentation Q3 FY26
Investor Presentation Q3 FY 26 1
Slide 3: Disclaimer
Disclaimer Information contained in our presentation is intended solely for your personal reference. Such information is subject to change without prior notice, and it may not contain all material information concerning the Company. We assume no responsibility or liability for, the accuracy or compl
Slide 4: Key Strategic Announcements
Key Strategic Announcements 3
Slide 5: Board-Approved Strategic Updates
Board-Approved Strategic Updates Fleet Expansion: The Board has approved a calibrated ramp-up to 60 aircraft for the winter schedule, supported 1 through a balanced mix of wet and damp leases, alongside the return to service of existing grounded aircraft. 2 Liquidity Strengthening Measures: Approval
Slide 6: Fleet Expansion and Growth Trajectory
Fleet Expansion and Growth Trajectory 5
Slide 7: Passenger Market Share Increasing to 4.3%
Passenger Market Share Increasing to 4.3% Market share rising from 2.2% to 4.3% in three months, driven by network expansion and capacity additions Passenger Market Share % (Pax Carried) 5 4.5 4.3 4 3.7 3.5 3 2.6 2.5 2 2 1.5 1 0.5 0 Q2 FY26 Oct Nov Dec Source: DGCA 6
Slide 8: Building Scale Through Capacity Expansion
Building Scale Through Capacity Expansion Capacity expansion aligned with fleet induction has driven an approximately 1.9x increase in operational scale, achieved by December 2025 ASKM Growth Per Month (in Crore) Growth in Daily Departures 120 200 105 170 175 99 100 150 133 80 73 100 60 55 100 40 50
Slide 9: Fleet Expansion: Driving Future Growth and Scale
Fleet Expansion: Driving Future Growth and Scale* Projected Operational Aircraft 60 Fleet scale-up to 60 aircraft by Oct - Dec’26 underpins the planned 33 network and capacity expansion 26 Dec 24 Dec 25 Dec 26 *The figures presented are based on fair estimates. However, the Company shall not be held
Slide 10: Fleet Expansion: Driving Growth and Scale
Fleet Expansion: Driving Growth and Scale* Projected ASKMs Per Quarter (in Crore) 650 600 305 240 April-Jun'26 Jul-Sep'26 Oct-Dec'26 Jan-Mar'27 >2x expansion in quarterly ASKM (305 → 650), reflecting a significant capacity ramp-up *The figures presented are based on fair estimates. However, the Comp
Slide 11: Key Drivers of Future Growth
Key Drivers of Future Growth 1 Planned induction of 35 damp-leased aircraft by Oct’26; 5 aircraft returning to service 2 Network expansion into high-yield markets, strengthening presence on profitable regional and metro routes 3 Improved aircraft utilization, driving higher ASKM with a leaner cost b
Slide 12: Total Fleet Breakup
Total Fleet Breakup No. of Aircraft (Quarter Ended) Fleet Type Dec 25 Sep 25 Total Operational Total Operational Boeing 737-700 5 2 5 3 Boeing 737-700F 3 0 3 0 Boeing 737-800 12 8 12 8 Boeing 737-900 3 1 3 1 Boeing 737-MAX 7 2 7 1 Q400 24 4 24 6 Wet Lease* 16 16 0 0 Total 70 33 54 19 * Wet lease air
Slide 13: Operational & Strategic Milestones
Operational & Strategic Milestones 12
Slide 14: Operational & Strategic Milestones
Operational & Strategic Milestones Network and Market Expansion: SpiceJet leverages limited bilateral capacity to strengthen its UAE footprint. 1 Launches non-stop Ahmedabad - Sharjah flights starting February 5, 2026 Expansion to UAE: SpiceJet to start flights to Fujairah to meet the additional dem
Slide 15: Our Red Hot Routes
OUR RED HOT ROUTES AMRITSAR (ATO) KOLKATA (CCU) AHMEDABAD (AMD) Koct (6010 NGALURU (BLR) BENGALUR a KANDLA (IXY) BAGDOGRA (1x8) LEH (xt) CHENNAI (MAA) MADURAI (IXM) DARBHANGA (DBR) MUMBAI (BOM) DELHI (DEL) DHARAMSHALA (OHM) cere aD DUBAI (OXB: PORBANDAR (PED) GUWAHATI (GAU) PUNE (PNQ) GORAKHPUR (GOP
Slide 16: Quarterly Highlights Q3FY26 vs Q2FY26
Quarterly Highlights Q3FY26 vs Q2FY26 15
Slide 17: Continued Operating Momentum
Continued Operating Momentum Capacity Expansion Momentum: ASKM increased to 277 crore in Q3 FY26 from 177 crore in Q2 FY26, 1 delivering a 56% QoQ growth. On a year-on-year basis, capacity expanded by 11%, underscoring disciplined scale-up and improved aircraft utilization Strong Passenger Growth: P
Slide 18: Bottom Line Breakdown
Bottom Line Breakdown -268 Cr -136 Cr -53 Cr -19 Cr -12 Cr -48 Cr Reported Loss Cost of Impact Exceptional Costs Engineering Loss Attributable to Operational Grounded of Forex Due to Cost for Expenses Aircraft New labor codes Ungrounding Amt. in INR Crore 17
Slide 19: Executive Summary (Q3FY26 vs Q2FY26)
Executive Summary (Q3FY26 vs Q2FY26) Quarter Ended Particulars Change (%) Dec 25 Sep 25 ASKM (in Cr) 277 177 56% Total Income 1,523 828 84% RASK (INR) 5.49 4.66 18% Total Expenses 1,791 1,462 23% Operational CASK (INR) 5.67 6.33 -10% Grounded Aircraft CASK 0.49 0.68 -27% Ungrounding CASK* 0.04 0.17
Slide 20: Revenue Breakup (Q3FY26 vs Q2FY26)
Revenue Breakup (Q3FY26 vs Q2FY26) Quarter Ended Particulars Change (%) Dec 25 Sep 25 ASKM 277 177 56% Revenue Details Revenue from operations 1,384 781 77% Other income 138 46 200% Total 1,523 828 84% Key Performance Indices Load factor (RPKM/ASKM) 89.4% 84.2% 6% Pax Yield 4.98 4.55 9.5% Total RASK
Slide 21: Expense Breakup (Q3FY26 vs Q2FY26)
Expense Breakup (Q3FY26 vs Q2FY26) Quarter Ended Particulars Change (%) Dec 25 Sep 25 ASKM 277 177 56% Aviation turbine fuel 548 312 76% Aircraft rentals (DAMP & Short Lease) 234 25 836% Airport charges 166 121 37% Aircraft maintenance costs 156 178 -12% Other operating costs 52 57 -9% Purchases of
Slide 22: Cash Balance
Cash Balance Quarter Ended Particulars Dec 25 Total Cash Balance 317 Free Cash 171 Restricted Cash 146 Amt. in INR Crore 21
Slide 23: Quarterly Highlights Q3FY26 vs Q3FY25
Quarterly Highlights Q3FY26 vs Q3FY25 22
Slide 24: Executive Summary (Q3FY26 vs Q3FY25)
Executive Summary (Q3FY26 vs Q3FY25) Quarter Ended Particulars Change (%) Dec 25 Dec 24 ASKM 277 250 11% Total Income 1,523 1,651 -8% RASK (INR) 5.49 6.61 -17% Total Expenses 1,791 1,625 10% Operational CASK (INR) 5.67 5.71 -1% Grounded Aircraft CASK 0.49 0.38 29% Ungrounding CASK* 0.04 - - Forex CA
Slide 25: Revenue Breakup (Q3FY26 vs Q3FY25)
Revenue Breakup (Q3FY26 vs Q3FY25) Quarter Ended Particulars Change (%) Dec 25 Dec 24 ASKM 277 250 11% Revenue Details Revenue from operations 1,384 1,231 12.4% Other income 138 420 -67% Total 1,523 1,651 -8% Key Performance Indices Load factor (RPKM/ASKM) 89.4% 88% 1.6% Pax Yield 4.98 4.96 0.4% Tot
Slide 26: Expense Breakup (Q3FY26 vs Q3FY25)
Expense Breakup (Q3FY26 vs Q3FY25) Quarter Ended Particulars Change (%) Dec 25 Dec 24 ASKM 277 250 11% Aviation turbine fuel 548 470 17% Aircraft rentals (DAMP & Short Lease) 234 168 39% Airport charges 166 137 21% Aircraft maintenance costs 156 169 -8% Other operating costs 52 21 148% Purchases of
Slide 27: Thank You!
Thank You! 26