Climate Change Data

Environmental Metrics

ESG Focus Areas

• Sustainability
• Employee Well-being
• Community Engagement

Environmental Achievements

• Launched electric tarmac coaches at Chennai Airport to reduce carbon footprint.

Social Achievements

• SpiceDemocracy campaign offered free flight tickets to voters, with over 7,000 participants.
• Partnered with Sports Authority of India, providing flights for athletes at Khelo India Youth Games.
• Operated over 1,100 flights under Vande Bharat Mission, repatriating 200,000 Indians.
• Transported ~76,500 tonnes of cargo, including essential supplies and medical equipment, during the Covid-19 pandemic.
• Supported farmers through Krishi Udan and Marine Udan initiatives.

Governance Achievements

• Implemented cost control measures, including employee compensation revisions and contract renegotiations.
• Consolidated operations at Mumbai and Delhi airports to streamline operations and reduce costs.
• Secured 74 premium slots vacated by other airlines.

Climate Goals & Targets

Environmental Challenges

• Worldwide grounding of Boeing 737 Max fleet.
• Rise in aviation turbine fuel prices and rupee depreciation.
• Covid-19 pandemic and subsequent nationwide lockdown, leading to suspension of passenger flights.
• Dispute with erstwhile promoters.

Mitigation Strategies

• Re-accommodated passengers affected by Boeing 737 Max grounding.
• Implemented cost control measures, including employee compensation revisions and contract renegotiations.
• Leveraged SpiceXpress cargo operations to transport essential goods during the pandemic.
• Secured additional departure slots at key airports.
• Strengthened technology platform (WhatsApp customer service, mobile app revamp).
• Consolidated freighter business (SpiceXpress).

Supply Chain Management

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• Electric tarmac coaches

Awards & Recognition

• Asia Pacific Airline Executive of the Year Award 2019 (Ajay Singh)
• Best Domestic Low Cost Airline Award 2019 (ASSOCHAM)
• Best Domestic Airline Award 2018 (ASSOCHAM)
• Low-Cost Leadership Award (Flight Airline Business)
• USISPF Leadership Award (Ajay Singh)
• Editor’s Choice Award (Times Travel Award)
• BML Munjal Awards 2018
• Special Jury Award (Air Passengers Association of India)
• Best Airline operating under UDAN (APAI)
• Best Domestic Airline Award (Wings India Awards)
• Indian Entrepreneur of the Year 2017 (Ajay Singh)

Environmental Metrics

ESG Focus Areas

• Safety
• Employee Well-being
• Sustainability
• Community Development
• Environmental Responsibility

Environmental Achievements

• Increased fuel efficiency through fleet renewal and investment in cleaner vehicles and equipment
• Encouraged the use of digital flight manuals to reduce paper waste
• Partnered with Boeing and CSIR-Indian Institute of Petroleum to explore Sustainable Aviation Fuel

Social Achievements

• No employee layoffs during the pandemic
• Continued focus on various health management initiatives and employee engagement initiatives
• Safety and skill upgradation training to 4,435 employees
• Played a key role in ‘Operation Ganga’ to evacuate Indians stranded in Ukraine
• Launched exclusive non-stop international flights connecting Pune with Bangkok and Amritsar with Rome and Bergamo
• Achieved Skytrax “World Top 20 LCC” ranking

Governance Achievements

• Robust and independent vigil mechanism to promote ethical conduct
• Comprehensive policy in compliance with the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013
• Adopted a Code of Conduct for all Directors and Senior Management Personnel
• Adopted Dividend Distribution Policy

Climate Goals & Targets

Environmental Challenges

• Record high ATF prices and depreciating rupee
• Erratic passenger demand and disrupted supply chains
• Covid-19 pandemic impact on revenue and profitability
• Ransomware attack on IT systems
• Ongoing litigation with erstwhile promoters
• High accumulated losses and negative net worth

Mitigation Strategies

• Restructuring and settlements with major partners
• Fundraising program to raise up to USD 200 million
• Enhanced ECLGS limit to `15,000 million
• Induction of fuel-efficient Boeing 737 MAX aircraft
• Hive-off of cargo business to strengthen balance sheet
• Cost reduction measures (fleet rationalisation, optimising aircraft utilisation, etc.)
• Negotiation of payment terms with various parties

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Indian Accounting Standards (Ind AS)

Third-party Assurance: Walker Chandiok & Co LLP

Sustainable Products & Innovation

• Revamped Spice Club loyalty program
• Co-branded loyalty card
• Pilot docs (digitised pilot documentation)
• E-tech log (electronic tech logs)
• Web DCS (browser-based product for airports)
• Profitability dashboard
• Big data platform

Awards & Recognition

• Best Cargo Carrier (Assoc. Chambers of Commerce & Industry of India)
• Best Cargo Air Carrier (Ministry of Civil Aviation)
• Skytrax “World Top 20 LCC” ranking

Environmental Metrics

ESG Focus Areas

• Ethics, Accountability, and Transparency
• Conservation of Energy and Fuel
• Emissions Management
• Safe and Healthy Working Conditions
• Waste management
• Customer experience
• Human Rights

Environmental Achievements

• Implemented waste management plan including e-waste recycling and reduction in single-use plastic
• Continuous measures to reduce greenhouse gas emissions by using fleet renewal, investment in cleaner vehicles and equipment, maintenance of engine and airframe, flight planning, training to operational staff, etc.

Social Achievements

• Providing employee counselling and conducting health-related programs
• Maintaining strong operational performance through industry-leading on-time performance, and low rates of cancellations and hassle-free refund process to customers

Governance Achievements

• Implemented ethical framework and adopted a code of conduct
• Corporate Social Responsibility Committee evaluated sustainability related issues

Climate Goals & Targets

Environmental Challenges

• Fuel cost is a substantial part of overall cost
• Significant financial implication to move to new fuel-efficient fleet
• Waste from business activity may cause pollution
• Provident fund and ESI have not been regularly deposited with the appropriate authorities.

Mitigation Strategies

• Measures include maintenance of engine and airframe, flight planning, training to operational staff, regular analysis etc.
• Intent to use new fuel-efficient aircraft to reduce carbon footprint
• Proper waste management plan including e-waste. Recycling and reduction in single-use plastic
• The Company insist and ensure that all partners comply with the code of conduct.

Supply Chain Management

Responsible Procurement

• All our vendor/suppliers are assessed on sustainability parameters (wherever possible) at the time of on boarding through the vendor/supplier selection process.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, National Guidelines on Responsible Business Conduct