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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.”
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By Hariharan U
Published on June 30, 2026
Aditya Birla Housing Finance Limited (ABHFL), a subsidiary of Aditya Birla Capital Limited, has expanded its presence in New Delhi with the launch of a new branch in Shahdara. With this addition, the company now operates four branches in the capital, strengthening its distribution network in one of India’s key housing finance markets.
Shahdara, a well-connected and steadily developing residential locality, continues to witness consistent housing demand supported by strong metro and rail connectivity and proximity to key commercial hubs across Delhi and the NCR region. ABHFL’s new branch aims to improve accessibility to tailored housing finance solutions for homebuyers in the area.
The company offers a wide range of housing finance products including affordable housing loans, prime housing loans, construction finance, and loans against property. These services cater to salaried individuals, self-employed professionals, and emerging income groups, supported by a digital-first onboarding system that enables faster approvals and improved transparency.
To mark the launch, ABHFL has introduced a limited-period offer featuring zero login fees along with spot loan sanctions of up to ₹50 lakh. The offer is valid from June 24 to June 30, 2026, and is designed to encourage quicker and more affordable access to home financing.
Speaking on the expansion, Pankaj Gadgil, MD & CEO of Aditya Birla Housing Finance Limited, said that New Delhi remains a key growth market for the company. He added that ABHFL is focused on deepening customer engagement by combining its expanding physical presence with strong digital capabilities to simplify the home loan journey.
The expansion aligns with ABHFL’s broader strategy of strengthening its retail lending portfolio while promoting financial inclusion and delivering a smoother, customer-centric “Happy Home Loan Journey” for borrowers across India.
Indian Hotels Company (IHCL), India's largest hospitality company, has expanded the footprint of its Ginger brand with the opening of Ginger Siwan, Chapra Road in Bihar and Ginger Agra Fatehabad Road in Agra.
Commenting on the expansion, Ms. Deepika Rao, Executive Vice President – Hotel Openings & New Businesses, IHCL, said, "With the launch of Ginger hotels in Siwan and Agra, Ginger continues to strengthen its presence across India’s commercial and cultural cities. Siwan is rapidly emerging as a center for trade and commerce in Bihar, while Agra remains one of the country’s most iconic tourist destinations with strong demand from both domestic. The openings of Ginger Siwan and Ginger Agra reflect our strategy to expand in high-potential markets."
Located on Fatehabad Road, Ginger Agra Fatehabad Road features 70 keys, offering modern amenities and cityscape views. Guests can dine at Qmin, Ginger's signature in-house restaurant, which serves a selection of Indian, Mughlai and international cuisine. The hotel also includes a bar, providing a space for guests to relax and socialise.
In Bihar, Ginger Siwan, Chapra Road offers 30 keys designed for convenience, comfort and hassle-free stays. The hotel also features Qmin, the brand's all-day dining restaurant, serving a mix of local favourites and international dishes.
Both Ginger Siwan and Ginger Agra Fatehabad Road are equipped with banquet halls and meeting venues, making them suitable for corporate events as well as social gatherings.
Eight Continents Hotels & Resorts, the UK-based luxury hospitality and hotel management group, has announced the launch of Hanric, Varkala, further expanding the Hanric by Eight Continents brand in India. The new property marks another step in the group's strategy to strengthen its presence across high-potential travel destinations while growing its experiential hospitality portfolio in the country.
Located in the heart of Varkala, the hotel has been designed to reflect the destination's unique coastal charm while offering guests a contemporary and comfortable stay. Known for its scenic cliffside views, beautiful beaches, vibrant local culture and rising popularity as a wellness destination, Varkala continues to attract travellers looking for a mix of relaxation, exploration and authentic experiences.
Hanric, Varkala features 32 well-appointed rooms, along with a restaurant, bar and banquet facilities, making it suitable for leisure stays, intimate celebrations and social gatherings. Blending modern comforts with warm hospitality, the property offers guests an ideal base to explore Kerala's picturesque coastline.
Eight Continents Hotels & Resorts will manage the property by drawing on its expertise in delivering personalised guest experiences, operational excellence and destination-led hospitality. The company aims to establish Hanric, Varkala as a preferred stay option for visitors to the region.
Commenting on the launch, Ms. Richa Adhia, Managing Director, Eight Continents Hotels & Resorts, said, "The launch of Hanric, Varkala marks an important milestone in the growth of the Hanric by Eight Continents brand. Varkala's growing popularity as a coastal getaway makes it a natural fit for our vision of creating distinctive hospitality experiences rooted in place and culture. Through this property, we aim to offer travellers an authentic connection to the destination while further strengthening our presence in India's growing experiential hospitality landscape."
The launch reflects the group's continued focus on expanding in destinations with strong tourism potential and increasing demand for experience-led travel. Eight Continents Hotels & Resorts currently operates a diverse portfolio of brands, including Treetop, Hanric, Stamps, Ocho Homes and Signature Collection, across India, the United Kingdom and East Africa. Its growing presence includes destinations such as Belfast, Guernsey, Zanzibar, Kasauli, Udaipur, Sariska, Jodhpur, Pushkar and Varkala, highlighting the group's commitment to building a design-led hospitality portfolio across emerging and established travel markets.
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