After months of financial struggles, SpiceJet has credited four months’ worth of pending salaries to its employees, much to their relief. The airline had been facing severe financial challenges, leading to delays in salary payments for many months.
In a welcome surprise, employees received all pending salaries ahead of the festive season. “I’m still in shock! Getting four months’ salary in the last five days was unexpected. It feels like Diwali came early!” said Vishnu Prasad, an executive in the reservations department.
Manish Kumar, a member of the airline’s security staff, expressed his gratitude, saying, “I was worried about my family’s future. I’m so happy the management kept its word. We were promised our dues would be cleared by September 30, and they did it even sooner. I’m proud to be part of this team.”
Deepak Singh, an airport staff member, shared his disbelief: “I honestly couldn’t believe it when I saw my account. Three months of salary paid in one go, and then receiving my September salary on time – it’s a huge relief.”
These developments follow SpiceJet’s successful raising of Rs 3,000 crore through a Qualified Institutional Placement (QIP), which attracted major institutional investors including Goldman Sachs (Singapore), Morgan Stanley Asia, Tata Mutual Fund, and Discovery Global Opportunity Ltd.
In addition to settling employee dues, SpiceJet has also cleared outstanding GST payments, signaling its efforts to restore financial stability. The airline is now looking to expand its fleet, introduce new routes, and rebuild its network as part of a broader plan to regain its competitive position in the aviation market.
With their salaries finally settled, employees are feeling re-energized and optimistic, ready to help the airline reclaim its foothold in the sector.