SpiceJet announced on Tuesday that it has cleared tax deducted at source (TDS) dues totaling Rs 310 crore up to the September quarter of the current fiscal year, including employee TDS payments.
“We are committed to setting our house in order and are pleased to have cleared all pending TDS dues,” said Ajay Singh, chairman and managing director of SpiceJet.
The airline reported that, since September 26, it has settled Rs 600 crore in dues, covering outstanding salaries, GST liabilities, and provident fund (PF) contributions.
“Additionally, the company has also successfully reached settlements with multiple aircraft lessors,” SpiceJet added.
The airline, which has been navigating financial challenges, raised Rs 3,000 crore in fresh funds last month.
Earlier this month, FE reported that SpiceJet resolved four disputes with aircraft lessors within a span of one month.
The most recent settlement was with Shannon Engine Support (SES) for $2 million, down from an initial claim of $4.5 million, finalised on October 25.
On October 15, SpiceJet announced it had amicably settled a $23.39 million dispute with Aircastle (Ireland) Designated Activity and Wilmington Trust SP Services (Dublin), agreeing to pay $5 million.
On October 9, the airline resolved a $131.85 million dispute with Horizon Aviation 1, Horizon II Aviation 3, and Horizon III Aviation 2 (under Babcock & Brown Aircraft Management) for $22.5 million.
Previously, on September 24, the carrier settled a claim from Engine Lease Finance Corporation (ELFC), originally valued at $16.7 million, for an undisclosed reduced amount.