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GURUGRAM, October 29, 2024: SpiceJet has cleared pending TDS (Tax Deducted at Source) dues amounting to INR 310 Crore, including employee TDS, up to the second quarter of FY 2025.
Beginning September 26, 2024, SpiceJet has cleared over INR 600 Crore in pending dues, including outstanding salaries, GST liabilities, and Provident Fund (PF) contributions. Additionally, the company has also successfully reached settlements with multiple aircraft lessors.
These efforts are part of the airline’s strategic financial plan, set in motion with the QIP, to stabilise its operations and position itself for long-term growth.
Ajay Singh, Chairman and Managing Director, SpiceJet, said “We are committed to setting our house in order and are pleased to have cleared all pending TDS dues. The successful clearance of dues marks a significant step forward for SpiceJet. It reinforces the airline's commitment to financial stability and responsible business practices. With a stronger financial position, SpiceJet is well-equipped to continue its growth trajectory and provide exceptional air travel services to its valued customers.”
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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