SpiceJet Reports Q2 FY26 Results, Prepares for Strong Winter Recovery

SpiceJet Reports Q2 FY26 Results, Prepares for Strong Winter Recovery

By Manu Vardhan Kannan

Published on November 15, 2025

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.”


Indian Railways Launches First Hydrogen-Powered Train on Jind–Sonipat Route

Indian Railways Launches First Hydrogen-Powered Train on Jind–Sonipat Route

By Manu Vardhan Kannan

Published on July 20, 2026

 Indian Railways has introduced the country's first indigenously built hydrogen-powered passenger train, marking a significant step in its clean transportation journey. Named NaMo Green Rail, the train will operate on the Jind–Sonipat section of Northern Railway in Haryana.

Prime Minister Narendra Modi inaugurated the hydrogen-powered locomotive ahead of its maiden journey, describing the launch as an important milestone in India's vision of becoming both self-reliant and environmentally sustainable.

With the launch, India joins a select group of countries, including Germany, Japan, China and the United States, that have introduced hydrogen-powered passenger rail services. Germany was the first country to launch a commercial hydrogen-powered train fleet in 2022.

Designed, engineered and built entirely in India, NaMo Green Rail emits only heat and water vapour, making it a zero-emission alternative to diesel-powered trains. The initiative forms part of the government's broader efforts to expand hydrogen-based mobility and reduce carbon emissions across the transport sector.

The 10-coach train has a seating capacity of around 2,600 passengers and can operate at speeds of up to 75 km/h. It will run two return trips daily on the 90-kilometre route connecting Jind and Sonipat.

One of the key highlights of the new service is its affordable pricing. According to railway officials, ticket fares start at ₹5, with the highest fare capped at ₹25, depending on the distance travelled. Passengers on the inaugural service were also able to purchase tickets priced at ₹5.

Although Indian Railways has already electrified nearly all of its 70,000-kilometre rail network, hydrogen-powered trains provide a practical solution for routes where complete electrification may not be feasible.

The introduction of NaMo Green Rail aligns with the government's ambition to make Indian Railways net-zero by 2030, while supporting India's wider clean energy goals through increased adoption of hydrogen, renewable energy and other sustainable technologies.


Yes Madam Launches Instant Salon and Spa Services, Records 30,000 Bookings in First Month

Yes Madam Launches Instant Salon and Spa Services, Records 30,000 Bookings in First Month

By Hariharan U

Published on July 19, 2026

Yes Madam, India's leading at-home salon and wellness platform, has launched instant salon and spa services, bringing trained beauty and wellness professionals to customers' homes within minutes. The technology-driven initiative aims to redefine convenience in the beauty and wellness sector by offering on-demand services similar to the instant access models adopted across food delivery, mobility, grocery, and home services.

The company has recorded more than 30,000 instant service bookings within the first month of launch, highlighting strong consumer demand for faster and more accessible beauty and wellness experiences.

Currently, instant spa services are available across all cities where Yes Madam operates, while instant salon services have been introduced in select metro cities, with plans for a phased expansion across additional markets. The average fulfilment time for instant services is currently under 30 minutes, with the company continuing to enhance its operational capabilities to further reduce waiting times.

The launch builds on the growing demand for flexible and convenient personal care solutions. Yes Madam identified an opportunity to bring professional salon and wellness services to customers whenever they need them, whether for last-minute events, professional commitments, festive occasions, or personal relaxation.

The instant services model also creates new opportunities for service professionals by enabling them to fulfil more bookings efficiently. The initiative is designed to deliver value for both customers seeking convenience and service partners looking to increase their earning potential.

Yes Madam currently fulfils more than 3.5 lakh monthly bookings across its platform. Popular services including waxing, facials, massages, and grooming treatments continue to see strong demand, with instant fulfilment making these offerings more accessible for customers with busy lifestyles.

To support the new service model, Yes Madam has strengthened its technology platform to match customer requests with nearby professionals based on location, availability, and expertise. The technology-led approach enables faster service delivery while maintaining quality standards and ensuring a smooth experience for both customers and service partners.

Commenting on the launch, Aditya Arya, Co-Founder and CEO, Yes Madam, said, "Yes Madam has consistently been a disruptor in the at-home beauty and wellness industry. We introduced mono-dose kits to improve hygiene and brought greater pricing transparency by separating product and service costs at a time when no one else in the industry was doing so. We are once again redefining the industry by becoming the only at-home beauty and wellness platform offering instant salon and spa services at this scale. We believe convenience is becoming a vital expectation across different services, and beauty and wellness should be no different."

With instant services gaining early traction, Yes Madam continues to strengthen its position in India's evolving at-home beauty and wellness market. The launch reflects the company's focus on technology, operational innovation, and creating seamless customer experiences.


Starbucks Reserve Opens at World St. Worldmark Aerocity, New Delhi

Starbucks Reserve Opens at World St. Worldmark Aerocity, New Delhi

By Hariharan U

Published on July 17, 2026

World St. at Worldmark Aerocity, New Delhi has welcomed Starbucks Reserve, bringing the premium coffee brand’s elevated café experience to one of the capital’s most vibrant lifestyle and dining destinations.

The opening strengthens World St.’s vision of creating a globally inspired urban destination featuring celebrated brands, immersive experiences, and curated food and beverage offerings. Positioned as “The Social Spine of Worldmark,” World St. is designed as a walkable F&B and lifestyle hub within Delhi’s prominent business district, offering guests a blend of dining, leisure, and social experiences.

The launch marks the fourth Starbucks Reserve store in India and the third Starbucks Reserve destination in Delhi NCR, further expanding Starbucks’ premium coffee footprint in the country. Built around Starbucks’ philosophy of creating a welcoming “third place” between home and work, Starbucks Reserve offers guests an enhanced coffeehouse experience focused on connection, discovery, and community.

The café showcases the craftsmanship behind specialty coffee through a selection of rare and premium coffees, signature espresso creations, handcrafted beverages, and curated food offerings. Guests can also enjoy the brand’s bake-in menu, designed to complement the premium beverage experience.

A key highlight of the store is the Black Eagle espresso machine, an advanced brewing system that enables Coffee Masters to achieve greater precision in extraction and preparation. The technology further enhances the artistry and expertise behind every cup served at Starbucks Reserve.

The arrival of Starbucks Reserve adds to World St.’s expanding portfolio of globally recognised dining and lifestyle brands. Spread across approximately half a kilometre through Worldmark 4, 5, and 6, World St. covers nearly 2,60,000 sq. ft. of gross leasable area and has been developed as a pedestrian-friendly destination featuring global cuisine, alfresco dining spaces, green courtyards, art installations, and contemporary street furniture.

Connecting three iconic Worldmark developments, World St. brings together work, leisure, and culture through a diverse mix of cafés, patisseries, restaurants, and bars. The destination has established itself as one of Delhi-NCR’s prominent food and lifestyle destinations, featuring brands such as India’s first Olive Garden, P.F. Chang’s, and Magnolia Bakery.

With the addition of Starbucks Reserve, World St. continues to strengthen its positioning as a destination for premium experiences, attracting visitors seeking international brands, culinary discovery, and vibrant social spaces.

Starbucks Reserve at World St., Worldmark, Delhi will be open to customers from 15 July 2026, operating from 8:00 AM to 12:00 AM.

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