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GURUGRAM, September 27, 2024: SpiceJet has cleared all its Goods and Services Tax (GST) dues, demonstrating its commitment to maintaining financial discipline and regulatory compliance.
The payment of GST dues follows SpiceJet’s recent successful Qualified Institutional Placement (QIP), which raised INR 3000 crore. The QIP attracted a diverse range of top-tier institutional investors and funds, including marquee names such as Goldman Sachs (Singapore), Morgan Stanley Asia, Tata Mutual Fund, and Discovery Global Opportunity Ltd.
“We are proud to have cleared all GST dues, a significant step towards reinforcing our commitment to financial discipline and regulatory compliance,” said Ajay Singh, Chairman & Managing Director of SpiceJet. “These developments reflect our commitment to providing exceptional service to our passengers while positioning ourselves strategically for the future.”
On September 24, SpiceJet announced it had resolved its dispute with Engine Lease Finance Corporation (ELFC) through an amicable settlement. ELFC had previously claimed $16.7 million, and the settlement has been reached for an undisclosed amount, which is lower than the initial claim. This resolution marks another significant step towards strengthening SpiceJet’s financial health.
About SpiceJet:
SpiceJet is India's favourite airline that has made flying affordable for more Indians than ever before. SpiceJet is an IATA-IOSA certified airline that operates a fleet of Boeing 737s & Q-400s and is one of the country's largest regional players operating multiple daily flights under UDAN or the Regional Connectivity Scheme. The majority of the airline's fleet offers SpiceMax, the most spacious economy class seating in India.
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