SpiceJet Says Cleared Rs 160 Crore Worth Pending Employee PF Dues – News18
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SpiceJet on Friday said it has cleared all employee provident fund dues that were pending for over two years.
The airline has also resolved various disputes with aircraft lessors and other creditors.
SpiceJet on Friday said it has cleared all employee provident fund dues worth Rs 160.07 crore that was pending for over two years.
The low-cost carrier, which has been facing multiple headwinds, recently raised Rs 3,000 crore, following which it has been clearing statutory, GST (Goods and Services Tax) and other dues.
Employee provident fund dues amounting to Rs 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 per cent to close at Rs 58.59 apiece on BSE.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)
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