India's SpiceJet CFO resigns as losses widen

Company reported a loss of Rs7.84 billion

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By Reuters

Published: Wed 31 Aug 2022, 6:29 PM

Last updated: Thu 1 Sep 2022, 6:40 AM

India's low-cost carrier SpiceJet Ltd said on Wednesday Chief Financial Officer Sanjeev Taneja had resigned amid widening losses and a series of mid-air incidents.

The company reported a loss of Rs7.84 billion ($98.61 million) for the quarter ended June 30, compared with a loss of Rs7.31 billion a year earlier.

The company had also reported a loss Rs4.85 billion for the quarter ended March, which the company said was delayed due to a cyber security attack.

SpiceJet said it would raise funds up to $200 million. Some banks have raised concerns about loans to the carrier.

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