SpiceJet announced on Friday that it has cleared all pending salary and GST dues, following the recent infusion of ₹3,000 crore through a Qualified Institutional Placement (QIP) of shares on September 23. The airline, which has been grappling with financial difficulties and legal challenges, has also deposited ten months' worth of provident fund (PF) dues.
According to a spokesperson, the airline made swift progress in the first week after raising funds, addressing key financial liabilities. The process of clearing other outstanding dues is ongoing, as the airline works towards stabilizing its financial situation.
SpiceJet has also reached settlements with several aircraft lessors, a crucial step as it looks to rebuild its fleet and expand its operations. The airline has faced challenges in recent months, including a reduced fleet and mounting legal issues, but its latest efforts indicate a push towards financial recovery.
In addition to settling employee dues and GST payments, SpiceJet is planning to introduce new aircraft and expand its route network, aiming to strengthen its position in the competitive aviation market. Employees, now reassured with their salaries paid and dues cleared, are optimistic about the airline’s future and hopeful that SpiceJet will regain its footing in the sector.
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