SpiceJet shares at day's high as airline clears all pending employee PF dues worth Rs 160 crore

With the airline now current on its statutory dues, it is poised to save significantly on interest payments.

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26 Aug, 2025 12:21

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SpiceJet shares were trading at day's high on December 13 after the budget carrier announced that it had cleared all pending employee provident fund (PF) dues amounting to Rs 160.07 crore, spanning over two years.

In a press release, SpiceJet said the move "reaffirms its commitment to employee welfare and financial accountability".Over the past three months, since raising Rs 3,000 Crore through a Qualified Institutional Placement (QIP), the airline has cleared all pending statutory liabilities, including Tax Deducted at Source (TDS), Goods and Services Tax (GST), and employee salary dues.

"With the airline now current on its statutory dues, it is poised to save significantly on interest payments. Since October 2024, SpiceJet has been utilising its internal cash flows to meet its statutory obligations, including PF and TDS payments, reflecting the airline’s improved financial health and operational discipline," said the airline.

Ajay Singh, Chairman and Managing Director, SpiceJet, said: “We are pleased to announce the clearance of all pending employee PF dues. This marks a new chapter in SpiceJet’s journey. By clearing all pending statutory dues and settling disputes with lessors and creditors, we are demonstrating our unwavering commitment to operational excellence, financial prudence, and the welfare of our employees. With the successful implementation of our financial turnaround strategy, we are confident in our ability to continue delivering superior service to our customers and achieving sustainable growth.”

"Apart from clearing its statutory obligations, the company has resolved multiple outstanding disputes with aircraft lessors and other creditors, significantly improving its balance sheet. The airline’s sustained efforts toward financial stability and operational resilience have recently been recognised by Acuite Ratings & Research Limited, which upgraded SpiceJet’s credit rating by four notches," SpiceJet added.

The scrip of SpiceJet were trading at Rs 58.44 apiece at the BSE at 2.30 pm, which was 1.12 percent higher (or Rs 0.65) as  against the previous day's close.