SpiceJet Settles Pending Salaries Amid Fresh Capital Boost

SpiceJet has cleared all pending salary dues after securing a Rs 3,000 crore capital infusion. Salaries for July and August, along with remaining June salaries, were deposited on Wednesday. The airline had been delaying payments due to a liquidity crunch but aims to stabilize financially with the recent funding.

Domestic carrier SpiceJet has successfully cleared all pending salary dues of its employees following a significant capital infusion of Rs 3,000 crore, according to a source.

Employees received their full salaries for July and August, along with the remaining unpaid portions of June salaries, on Wednesday evening, said the source.

A SpiceJet spokesperson confirmed the disbursement of the pending salaries. 'Pending salaries of employees were disbursed on Wednesday evening,' the spokesperson noted, stopping short of providing additional details.

Due to a liquidity crunch, SpiceJet had been delaying salary payments over the last few months. The airline also hasn't paid provident fund contributions for two and a half years, and TDS deductions have not been deposited with the government.

On September 23, SpiceJet announced that it had raised Rs 3,000 crore through a Qualified Institutional Placement (QIP) and an additional Rs 736 crore from earlier funding rounds, thereby strengthening its financial position and future growth plans.

(With inputs from agencies.)