SpiceJet clears pending salaries after Rs 3,000 crore capital infusion

Budget airline SpiceJet has taken a significant financial step by clearing all its Goods and Services Tax (GST) dues on Friday, just a day after settling all salary arrears for its employees. This follows the airline’s successful Rs 3,000 crore fundraising through a Qualified Institutional Placement (QIP) earlier this week, reported The Economic Times.

The QIP saw participation from prominent institutional investors, including Goldman Sachs (Singapore), Morgan Stanley Asia, Tata Mutual Fund, and Discovery Global Opportunity Ltd, reflecting strong investor confidence.

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Ajay Singh, chairman and managing director of SpiceJet, emphasised the airline’s focus on financial responsibility, stating, “We are proud to have cleared all GST dues, a significant step towards reinforcing our commitment to financial discipline and regulatory compliance.”