NEW DELHI: Sustaining monetary self-discipline and regulatory compliance, home airline SpiceJet has cleared all its Items and Providers Tax (GST) dues.
The airline in an announcement on Friday knowledgeable that the cost of GST dues follows SpiceJet’s latest profitable Certified Institutional Placement (QIP), which raised INR 3000 crore.
The QIP attracted a various vary of top-tier institutional buyers and funds, together with marquee names resembling Goldman Sachs (Singapore), Morgan Stanley Asia, Tata Mutual Fund, and Discovery World Alternative Ltd.
“We’re proud to have cleared all GST dues, a big step in direction of reinforcing our dedication to monetary self-discipline and regulatory compliance,” stated Ajay Singh, Chairman, Managing Director of SpiceJet.
“These developments mirror our dedication to offering distinctive service to our passengers whereas positioning ourselves strategically for the long run,” Singh added.
On September 24, SpiceJet introduced it had resolved its dispute with Engine Lease Finance Company (ELFC) via an amicable settlement. ELFC had beforehand claimed USD 16.7 million, and the settlement has been reached for an undisclosed quantity, which is decrease than the preliminary declare. This decision marks one other vital step in direction of strengthening SpiceJet’s monetary well being.
Just lately, the airline has cleared all pending wage dues of its staff.
