SpiceJet says cleared salary, GST dues; deposited 10-month PF dues
1 min read Last Updated : Oct 05 2024 | 12:06 AM IST
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.
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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.
First Published: Oct 05 2024 | 12:06 AMIST
Originally published by business-standard.com. Syndicated material does not necessarily reflect the views of Grazia British.
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