SpiceJet says cleared ₹160 crore worth pending employee provident fund dues
The Hindu
SpiceJet clears ₹160.07 crore EPF dues, resolves disputes, and raises ₹3,000 crore for financial stability.
SpiceJet on FridayOn Friday (December 13, 2024), SpiceJet said it cleared all employee provident fund (PF) dues worth ₹160.07 crore that were pending for over two years.
The low-cost carrier, which has been facing multiple headwinds, recently raised ₹3,000 crore, following which it has been clearing statutory, GST (Goods and Services Tax) and other dues.
“Employee PF dues amounting to ₹160.07 crore, spanning over two years, have been cleared,” the airline said in a release.
According to the release, since October, SpiceJet has been utilising its internal cash flows to meet its statutory obligations, including provident fund and TDS (Tax Deduction at Source) payments, the release said.
The airline has also resolved various disputes with aircraft lessors and other creditors.
Shares of SpiceJet rose 1.38% to close at ₹58.59 apiece on BSE.
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