Cleared Rs 160 crore worth pending employee provident fund dues: SpiceJet
Shares of SpiceJet rise 1.38 per cent to close at Rs 58.59 apiece on BSE
Employee provident fund dues amounting to Rs 160.07 crore, spanning over two years, have been cleared, the airline said in a release. File photo
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SpiceJet on Friday said it has cleared all employee provident fund dues worth Rs 160.07 crore that were 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, Goods and Services Tax and other dues.
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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 Tax Deduction at Source payments, the release said.
The airline has also resolved various disputes with aircraft lessors and other creditors.
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Shares of SpiceJet rose 1.38 per cent to close at Rs 58.59 apiece on BSE.
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