SpiceJet Clears Rs 160.07 Crore Employee Provident Fund Dues After Two Years

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.

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% to close at Rs 58.59 apiece on BSE.