Airline Struggles with Unpaid Dues Amid Financial Crunch
SpiceJet is facing significant financial challenges, revealing unpaid dues of ₹135.3 crore in Provident Fund and ₹220 crore in Tax Deducted at Source (TDS) from April 2020 to August 2023. The airline’s constrained financial position has led to delays in payments, but it remains committed to clearing these dues. SpiceJet plans to raise ₹3,000 crore through the sale of securities to address these liabilities and unground 24 aircraft. The airline’s operational fleet has drastically reduced from 74 in 2019 to just 28 in 2024.
