New Delhi
After months of financial struggles, SpiceJet has credited four months’ worth of pending salaries to its employees, providing much-needed relief ahead of the festive season. The airline had been facing financial difficulties, leaving employee salaries unpaid for several months.
Vishnu Prasad, an executive in the reservations department, expressed his surprise, saying, ‘It feels like Diwali came early! Getting four months’ salary in the last five days was completely unexpected.’ Manish Kumar, a security staff member, added, ‘I was worried about my family’s future, but the management kept its promise. I’m proud to be part of this team.’
The airline’s move to settle employee dues follows its successful raising of ₹3,000 crore through a Qualified Institutional Placement (QIP). This attracted prominent investors like Goldman Sachs, Morgan Stanley Asia, and Tata Mutual Fund.
In addition to paying its employees, SpiceJet has cleared outstanding GST payments. With plans to introduce new aircraft and expand its routes, the airline aims to regain its competitive edge in the aviation market.
