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Budget carrier Spicejet, which is facing a cash crunch, has delayed payment of salaries to many of its employees, according to a CNBC-TV18 report citing sources.
The development comes after reports recently that Spicejet is planning to lay off around 1,400 employees, or 15 per cent of its total workforce, to save costs. The reports said the layoffs have become necessary due to Spicejet’s Rs 60-crore salary bill.
Apart from delay in salary, Spicejet has also delayed depositing the money due to pension funds and taxes deducted from the salaries.
A Spicejet spokesperson, according to the CNBC-TV18 report, said the salaries have been paid to over 75 per cent of the employees and that the pension fund dues will deposited in the “near future”.
The airline, which is currently operating around 30 aircraft including eight that are wet-leased from foreign carriers, has been delaying salary payments for several months.
Spicejet is raising Rs 2,200 crore in funds, and the process for the fund infusion is on.
A company spokesperson has earlier said there are no funding delays and the company is progressing well with its fund infusion and has already made its public announcements accordingly. “We will be making additional announcements as we progress on the next tranche. The majority number of investors have subscribed,” said the spokesperson.
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