SpiceJet has announced its financial results for the quarter ended September 30, 2025 (Q2 FY26), reporting a consolidated net loss of INR 447.7 crore (ex-forex), compared to INR 424.26 crore in Q2 FY25. The airline attributed the results to recalibrating dollar-based obligations, carrying costs of grounded aircraft, and expenses related to the restoration of aircraft to service during the quarter.

Despite the traditionally weak monsoon period, SpiceJet maintained a strong Passenger Load Factor (PLF) of 84.3%, showcasing steady passenger demand. Passenger Revenue per Available Seat Kilometre (RASK) improved to INR 4.04 from INR 3.91 in the previous year, while EBITDAR (ex-forex) stood at INR (203.8) crore against INR (58.87) crore in Q2 FY25.

The airline also advanced its ambitious fleet ramp-up programme, finalising damp lease agreements for 19 aircraft and restoring two grounded aircraft to service. Under the winter 2025 schedule, SpiceJet plans to more than double its operational fleet and triple its Available Seat Kilometres (ASKM). It also became the first Indian airline to launch non-stop flights to Najaf, Iraq, expanding its daily operations to 250 flights — more than twice the summer schedule.

Financially, the airline strengthened its balance sheet through several key milestones. It secured a liquidity boost of $89.5 million following a settlement with Carlyle Aviation Partners, unlocking $79.6 million in cash maintenance reserves and $9.9 million in credits. SpiceJet also completed the full repayment of $24 million to Credit Suisse, improving its financial flexibility. The airline’s credit ratings were upgraded consecutively by Acuité (BB Stable) and CRISIL (A4+), reflecting growing confidence in its turnaround strategy.

SpiceJet also achieved zero Level 1 findings in DGCA safety audits over the past year and signed an interline agreement with Gulf Air to enhance international connectivity.

Ajay Singh, Chairman and Managing Director, SpiceJet, said, “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 yield results from the current quarter onward. With aircraft additions and an expanding network, SpiceJet is on a clear trajectory towards stronger operational and financial performance in the second half of the year.”

He added, “Our load factor of over 84% underscores strong demand. With the winter schedule now live and high-yield routes in play, Q3 marks the start of a new chapter of scale, strength, and profitability for SpiceJet. We are also pleased to welcome Sanjay Kumar as Executive Director, his leadership will drive our next phase of transformation.”

Zostel, India’s largest community-led backpacker hostel brand, has announced its entry into the international market with the launch of Zostel Phuket, Thailand, its 100th property and first overseas destination. This milestone marks a defining moment in the brand’s journey from a homegrown travel movement to a global hospitality player.

Since its inception, Zostel has been synonymous with social, affordable, and experience-led travel for young explorers. Its expansion into Thailand not only celebrates its numerical achievement but also reflects the brand’s evolving philosophy, that travel is about connection, community, and shared experiences.

Located in the heart of Phuket, the new hostel captures Zostel’s signature design ethos of fostering creativity and belonging. With vibrant lounges, a courtyard café, and relaxed social zones, Zostel Phuket invites travellers to mingle, collaborate, and discover while embracing the island’s laid-back tropical energy.

Speaking on the launch, Aviral Gupta, CEO at Zo World, said, “Zostel Phuket is not just our 100th property, it’s our first footprint in a world without borders. This milestone reflects our vision of uniting people and cultures through travel. Over the next 12 months, we’re excited to take this movement deeper into Southeast Asia, with new Zostels lined up across Thailand, including Chiang Mai, Bangkok, and Koh Phangan and further expansions planned in Bali, the Philippines, and Sri Lanka.”

Zostel’s global push comes as part of the Zo World ecosystem, which is scaling across multiple travel and lifestyle verticals. Alongside Zostel’s hostels, the company is expanding Zo Trips across Europe and Asia, developing Zo House San Francisco in the United States, and growing Zo Villas across key leisure destinations.

These initiatives collectively aim to create a borderless travel network, connecting people, places, and cultures through purpose and community. For Zostel, reaching 100 hostels is not merely a number but a symbolic transformation, from being India’s backpacker pioneer to becoming a global connector of cultures.

The Fern Hotels & Resorts has announced the signing of Rajpath Beacon Hotel Belagavi, located in the vibrant city of Belagavi, Karnataka. This new addition marks another milestone in the group’s ongoing expansion across South India, taking the total number of operational and upcoming properties in the region to 13.

Sharing his thoughts on the signing, Suhail Kannampilly, Managing Director, The Fern Hotels & Resorts, said, “India’s hospitality landscape is witnessing rapid growth beyond traditional metros, with cities like Belagavi emerging as key demand drivers due to increasing business activity, improved connectivity and evolving consumer preferences. Our presence in such markets aligns with our long-term vision of creating a strong network of well-positioned hotels that serve both business and leisure segments, delivering contemporary, value-driven hospitality that resonates with today’s discerning travellers.”

The upcoming Rajpath Beacon Hotel Belagavi will feature 35 well-appointed guestrooms that combine modern amenities with thoughtful design, catering to the needs of both business and leisure travellers. Guests will also enjoy a contemporary all-day dining restaurant serving a variety of cuisines in a relaxed and welcoming ambiance, ideal for both casual meals and social gatherings.

Conveniently located in Belagavi, the property will cater to a diverse mix of visitors drawn to the city’s growing business ecosystem, educational institutions, and cultural heritage.

Scheduled to open in January 2026, the Rajpath Beacon Hotel Belagavi will further reinforce The Fern Hotels & Resorts’ commitment to delivering exceptional hospitality experiences rooted in comfort, sustainability, and regional character.