SpiceJet Employees Relieved After Salary and PF Payments
Employees were very relieved to get their salaries, especially with the festive season coming.
The airline has also deposited ten months' worth of provident fund (PF) dues.
SpiceJet, a struggling domestic airline, recently raised ₹3,000 crore and announced on October 4 that it has cleared all outstanding salaries for its employees, as well as Goods and Services Tax (GST) payments.
The airline has also deposited ten months' worth of provident fund (PF) dues.
A SpiceJet spokesperson said that within the first week of getting the new funds, the airline paid all overdue salaries and GST dues and made good progress on clearing PF dues.
They are still working on paying other debts, including deals with aircraft lessors.
Employees were very relieved to get their salaries, especially with the festive season coming.
One worker was shocked to receive four months' salary in just a few days.
Another employee felt worried about their family's future but was happy that the management kept its promise.
An airport worker was surprised to see three months' salary in their account along with their September salary. They said it was a huge relief.
SpiceJet wants to add new airplanes, expand its routes, and improve how it works to get stronger in the busy airline market.
This plan started after they raised money from big investors like Goldman Sachs and Morgan Stanley on September 23.
But SpiceJet is still having money problems and legal issues, and they are using fewer planes.
In the stock market, SpiceJet shares went down by 4.25% and closed at ₹62.79 each.
