SpiceJet has resolved all outstanding salary payments to its employees following a Rs 3,000 crore capital infusion, along with an additional Rs 736 crore from a previous funding round. The airline, which had faced financial challenges resulting in delayed wages, successfully disbursed the pending salaries for June, July, and August on Wednesday.
According to sources, SpiceJet deposited the due payments into employees’ accounts on Wednesday evening. A SpiceJet spokesperson confirmed the development but did not provide further details. The airline had been struggling with liquidity issues, leading to salary delays over the past few months.
Additionally, concerns were raised over the non-payment of provident fund contributions for two and a half years, and the delay in depositing tax deducted at source (TDS) with the government.
On September 23, SpiceJet announced a fresh capital raise of Rs 3,000 crore through a Qualified Institutional Placement (QIP), which, along with the Rs 736 crore from the previous funding, is expected to stabilize the airline’s financial position and support its growth plans.