Domestic airline SpiceJet said here on Friday that it has cleared all GST dues of around Rs 71 crore, days after raising Rs 3,000 crore through Qualified Institutional Placement (QIP).
The National Company Law Tribunal (NCLT) on Monday issued a notice to embattled low-cost carrier SpiceJet over a petition by Techjockey Infotech Pvt Ltd, one of its operational creditors.
Budget carrier Spicejet has been placed under "enhanced surveillance" by the Directorate General of Civil Aviation after passengers were not allowed to board the airline's flights in Dubai as it had not paid its airport dues.
The Ajay Singh-run airline's revenue from operations in the first quarter fell 15 per cent to Rs 1,708 crore compared to Rs 2,004 crore in the same period last year.
Low-cost airline SpiceJet Ltd on Monday reported a consolidated net profit of Rs 127 crore for their January-March quarter of 2023-24 compared to a net loss of Rs 6.22 crore in the same quarter of the previous year.
As the insolvency issue of SpiceJet heats up, prior red-flagging to the company by the Directorate General of Civil Aviation (DGCA) had pointed out long awaited trouble for the aviation giant.
SpiceJet has restructured over $100 million outstanding dues to Carlyle Aviation Partner, into equity shares and compulsorily convertible debentures (CCDs).
A senior DGCA official said that SpiceJet can operate at full capacity from October 30 onwards. During the 'Enhanced surveillance' period, SpiceJet has shown improvement in their operations, said an official. On September 21, DGCA had extended flight capacity restrictions on SpiceJet till October 29.
SpiceJet has announced a revised salary structure for its Captains increasing their monthly remuneration to Rs 7 lakh a month for 80 hours of flying.
SpiceJet has announced around 20 per cent hike in salaries for the pilots come this October, sources told ANI. This latest upward revision in salaries follows a 6 per cent hike announced last month.
