The Hindu
Low-cost carrier SpiceJet recorded an annual loss of ₹934.8 crore in the financial year 2020, owing largely due to the loss of ₹807 crore incurred in Q4. The airline had posted a profit of ₹56.3 crore a year earlier. The airline said the poor show was due to the COVID-19 pandemic as well as the worldwide grounding of the Boeing 737 MAX, leading to the grounding of 13 of its aircraft. “The... company’s current liabilities exceeded its current assets as at the balance sheet date, [indicating] the existence of a material uncertainty that may cast significant doubt about the company’s ability to continue as a going concern,” according to the auditor’s report on the financial results.
Read more...
Comments
Post a Comment