Not paid Rs 427 cr of statutory dues between Apr 2020-Aug 2024: SpiceJet

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Not paid Rs 427 cr of statutory dues between Apr 2020-Aug 2024: SpiceJet - Business Standard

Quick Summary:

SpiceJet stated that there have been instances of past notices, warnings, and action being initiated against it on account of certain lapses in regulatory compliances."For instance, the DGCA has put us on enhanced surveillance on August 24, 2024, pursuant to their audit findings.

Ameya Joshi, an aviation researcher and founder of the aviation blog “Network Thoughts,” said, "Statutory compliance is negative but SpiceJet could overcome this issue unless the authorities bar the airline from conducting flight operations.

The airline also mentioned that 36 out of its 58 aircraft are currently grounded "primarily" due to "alleged default" in payment of dues to the aircraft lessors, lack of aircraft maintenance due to financial constraints, and non-availability of components and spare parts.