SpiceJet has paid off all the pending salaries of its employees after raising ₹3,000 crore in new funding. Employees received their full salaries for July and August, as well as the remaining amount for June if they were only partially paid. This payment was made on Wednesday evening, according to the employees.
A SpiceJet spokesperson confirmed that the pending salaries were cleared but did not give more details.
For a while, SpiceJet had been struggling financially, which affected its employees’ pay, provident fund, and tax deductions. Many workers became frustrated, and frontline staff struggled to handle customer issues due to the company’s financial problems.
Experts say SpiceJet will now need to rebuild employee morale. The airline’s chairman, Ajay Singh, said that paying off employees’ dues was his top priority. In August, the airline had a high flight cancellation rate, and only about 3 out of 10 flights were on time. As a result, customers began avoiding SpiceJet.
The airline has assured that the new funding will improve its performance. In a message to customers, SpiceJet promised more reliable flights, a larger network, and better services moving forward.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
