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Spicejet delays fourth quarter results due to ransomware attack


No-frills national carrier SpiceJet said on Friday the company delayed results for the fourth quarter ended March 2022 due to a ransomware attack on its IT systems that affected the completion of the audit process within the stipulated time frame. .

The company was due to announce quarterly results for January through March on Monday, May 30.

“We would like to inform you that we expect a delay in submitting the Company’s standalone and consolidated audited financial results for the year ended March 31, 2022, with stock exchange due to a ransomware attack on our IT systems that affected the timely completion of the audit process.”

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The company said it was taking corrective action with the help of cyber experts and authorities on the matter, she said.

“As a result, the meeting of the Company’s Board of Directors scheduled to be held on May 30, 2022 is postponed and the revised date for the meeting of the Company’s Board of Directors to review and approve the individual and consolidated audited financial results of the company for the fiscal year ended March 31, 2022, will be disclosed shortly,” SpiceJet said in a filing.

Earlier this week, the airline said it faced a ransomware attack, which impacted flight operations. Although SpiceJet’s IT team largely contained and rectified the situation, it had a cascading effect on its flights, causing delays, he said.

“Some flights to airports where there are restrictions on night operations have been cancelled. SpiceJet is in contact with cybercrime experts and authorities on the matter,” he added.

First post: STI


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