Crisis-hit SpiceJet, which recently raised Rs 3,000 crore, said on Friday that it had cleared all pending salaries and GST dues as well as deposited ten months’ provident fund dues. On September 23, the airline announced raising Rs 3,000 crore through a qualified institutional placement (QIP) of shares.
An airline spokesperson said that within the first week of raising fresh funds, it cleared all pending salary and GST dues and made significant progress in depositing ten months’ PF dues. The process of settlement of other pending dues is ongoing, it said in a statement.
Among other efforts, the airline has reached agreements with several aircraft lessors. SpiceJet has faced multiple hurdles, including financial problems and legal issues. It is also operating with a reduced fleet. On Friday, SpiceJet shares fell 4.25 per cent to close at Rs 62.79 apiece on BSE.
All GST dues cleared: SpeciJet
Last month, SpiceJet said it had cleared all its Goods and Services Tax (GST) dues. The airline, which raised Rs 3,000 crore through the qualified institutional placement (QIP) route last week, had GST dues worth over Rs 145 crore. In a statement, the airline said it had cleared all GST dues.
As per the preliminary placement document related to the Rs 3,000 crore fund raising, the airline had GST dues of Rs 145.1 crore as on September 15. After receiving the fresh capital of Rs 3,000 crore, SpiceJet also cleared the salary dues of employees for July and August. as well as part of the pending salaries for June.
(With input from PTI)
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