INSUBCONTINENT EXCLUSIVE:
Spicejet (Photo: Shutterstock)2 min read Last Updated Aug 29 2024 | 11:05 PM IST
Cash-strapped SpiceJet on Thursday announced it has
employee salaries, sources said.
It is also entangled in legal battles over unpaid dues to aircraft lessors, engine lessors, lenders, and
on furlough for three months
This step has been taken in response to the current lean travel season and the reduced fleet size, with the long-term stability of the
During this furlough period, they will continue to retain their status as employees of SpiceJet, with all health benefits and earned leave
the upcoming QIP.
Last month, SpiceJet initiated the process of raising Rs 3,000 crore through a qualified institutional placement (QIP),
warrants to raise Rs 2,241 crore, of which just Rs 1,060 crore were raised.
The budget carrier last reported a profit in 2017-18, when it
