SpiceJet has cleared all pending salary and GST dues and deposited ten months' provident fund dues after raising Rs 3,000 crore. The airline is also working on clearing other outstanding dues.
Illustration: Uttam Ghosh/Rediff.com
New Delhi, Oct 4 (PTI) Crisis-hit SpiceJet, which has recently raised Rs 3,000 crore, on Friday said it has cleared all pending salary and GST dues as well as deposited ten months' dues of provident fund.
On September 23, the airline announced raising Rs 3,000 crore through Qualified Institutional Placement (QIP) of shares.
An airline spokesperson said that within the first week of raising fresh funds, it has cleared all pending salary and GST dues and has made significant progress by depositing ten months' dues of PF.
The process of clearing other outstanding dues is ongoing, he said in a statement.
Among other efforts, the airline has reached settlement with various aircraft lessors.
SpiceJet has been facing multiple headwinds, including financial problems and legal woes. It is also operating with a reduced fleet.
On Friday, shares of SpiceJet fell 4.25 per cent to close at Rs 62.79 apiece on BSE.
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