SpiceJet clears tax-related payments, employee salaries


SpiceJet Ltd. has cleared its major outstanding dues related to Income Tax (TDS) payments. As per a statement from the airline, it had earlier this month also cleared all Service Tax dues and employee salaries. The airline believes that the clearance of these dues is a key step in the airline’s revival and resurgence plan. “Paying our statutory dues that we had fallen behind on as a result of a very difficult couple of years, was an extremely high priority for us,” said Kiran Koteshwar, Acting CFO, SpiceJet.
“This is the first major step in our settling our payables to various creditors, which we will do as per mutual discussions and payment plans that are being put together. We have also paid all salaries to our staff, and have started making meaningful payments to our other business partners,” Koteshwar stated.
Clearance of major tax outstandings comes a day after the airline shares officially changed hands, resulting in Co-founder Ajay Singh formally assuming the role of majority shareholder and promoter.

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