India’s SpiceJet CFO resigns as losses widen

By Thomson Reuters Aug 31, 2022 | 9:01 AM

BENGALURU (Reuters) – 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 7.84 billion rupees ($98.61 million) for the quarter ended June 30, compared with a loss of 7.31 billion rupees a year earlier. (https://bit.ly/3pXWwQZ)

The company had also reported a loss 4.85 billion rupees 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.

($1 = 79.5080 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Shinjini Ganguli)