Domestic airline SpiceJet has settled all outstanding salary dues for its employees, following a significant capital infusion of Rs 3,000 crore, according to a source familiar with the development. Employees received their pending July and August salaries, as well as the remainder of June payments for those who were only partially compensated, late Wednesday evening.
A spokesperson for SpiceJet confirmed the salary disbursement on Thursday.”Pending salaries of employees were disbursed on Wednesday evening,” they said, without providing additional information.
SpiceJet had been facing delays in salary payments over the last few months due to a liquidity crisis. Additionally, the airline has not paid employees’ provident fund contributions for the past two and a half years, and tax deducted at source (TDS) from salaries has yet to be deposited with the government.
On September 23, the airline announced raising Rs 3,000 crore through Qualified Institutional Placement (QIP), along with an additional Rs 736 crore from a previous funding round, enhancing its financial outlook and future growth prospects.
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