NEW DELHI: Maintaining monetary self-discipline and regulatory compliance, home airline SpiceJet has cleared all its Goods and Services Tax (GST) dues.
The airline in a press release on Friday knowledgeable that the fee of GST dues follows SpiceJet’s current profitable Qualified Institutional Placement (QIP), which raised INR 3000 crore.
The QIP attracted a various vary of top-tier institutional traders and funds, together with marquee names resembling Goldman Sachs (Singapore), Morgan Stanley Asia, Tata Mutual Fund, and Discovery Global Opportunity Ltd.
“We are proud to have cleared all GST dues, a significant step towards reinforcing our commitment to financial discipline and regulatory compliance,” mentioned Ajay Singh, Chairman, Managing Director of SpiceJet.
“These developments reflect our commitment to providing exceptional service to our passengers while positioning ourselves strategically for the future,” Singh added.
On September 24, SpiceJet introduced it had resolved its dispute with Engine Lease Finance Corporation (ELFC) by 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.
Recently, the airline has cleared all pending wage dues of its workers.
