In a release, the carrier said it has cleared all the GST dues. File.
| Photo Credit: Reuters

Debt-ridden SpiceJet on Friday (September 27, 2024) said it has cleared all its Goods and Services Tax (GST) dues.

The airline, which raised ₹3,000 crore through the Qualified Institutional Placement (QIP) route last week, had GST dues worth over ₹145 crore.

In a release, the carrier said it has cleared all the GST dues.

As per the preliminary placement document related to ₹3,000 crore fund raise, the airline had GST dues of ₹145.1 crore as on September 15.

After receiving the fresh capital of ₹3,000 crore, SpiceJet has also cleared salary dues of employees for July and August as well part of pending June salaries.

Shares of the company rose around 1% to ₹62.39 apiece in the morning trade on BSE.

SpiceJet had mentioned about the settlement pact with Carlyle Aviation, which had earlier also restructured certain debt with the airline.
| Photo Credit: Reuters

SpiceJet on Tuesday (September 10, 2024) said Carlyle Aviation will write off aircraft lease arrears worth $40.17 million as part of a settlement agreement that will also result in the entity hiking stake in the struggling airline.

Facing multiple headwinds, the budget carrier is working on ways to raise funds to the tune of ₹3,200 crore, including infusion of money by the promoter.

On Friday, SpiceJet had mentioned about the settlement pact with Carlyle Aviation, which had earlier also restructured certain debt with the airline.

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In a release on Tuesday, the airline said there is a significant debt relief and Carlyle Aviation will write off $40.17 million in lease arrears.

Besides, the entity will convert $30 million in lease arrears into SpiceJet equity at ₹100 per share, following which its stake in the airline will increase significantly.

Currently, Carlyle Aviation has around 6% stake in the company.

According to the release, Carlyle Aviation will also convert $20 million in lease arrears into compulsorily convertible debentures of SpiceXpress & Logistics Pvt Ltd.

SpiceJet, which had a fleet of 74 planes in 2019, is operating around 20 aircraft. The outstanding liabilities include statutory dues worth ₹650 crore.

On Tuesday, shares of the airline rose 2.47% to ₹65.57 apiece.