India's airline company SpiceJet is struggling with financial crisis. Her pathetic condition can be gauged from the fact that she is not able to transfer the PF amount of her employees on time. In such a situation, there is a lot of resentment among the employees. However, the company is already fighting a legal battle with its old promoters and lessees. Experts say that if this situation continues, then the difficulties of SpiceJet may increase further in the coming days.
According to media reports, the airline company SpiceJet has not transferred the PF of its employees for the last 18 months. The special thing is that he has not even deposited employee tax since the last financial year. Even he has not given salary to the senior employees of his company for 3 months. However, SpiceJet has assured its employees that the dues of all the people will be cleared soon.
There was a net loss of Rs 783.72 crore
SpiceJet had recently released the first quarter report for the financial year 2023- 24. In this report, the company had declared itself profitable. SpiceJet had said in the report that even though there has been a decline in income, the expenses have also come down in comparison to that. Due to this the profit of the company has increased. The company had shown a net profit of Rs 197.64 crore for the quarter ending June 30, 2023. Whereas a year ago there was a net loss of Rs 783.72 crore in the same period.
Will pay Rs 100 crore
However, SpiceJet is also waging a legal battle against its former promoter Kalanithi Maran and some lessors. Recently, the High Court ordered SpiceJet and its CMD Ajay Singh to pay Rs 100 crore to Kalanithi Maran by 10 September. Along with this, the court had said that if this is not done, the property of the airline will be attached. After this, SpiceJet issued a statement saying that it would respect the court's order and pay Rs 100 crore to Maran within the time limit set by the court.
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