Sponsored by

SpiceJet clears dues of employees, fuel companies

New Delhi: Troubled carrier SpiceJet Ltd has paid employees' salaries for November and cleared dues of fuel companies as of Friday, its chief operating officer said.

Sanjiv Kapoor met senior officials in the aviation ministry on Friday along with co-founder Ajay Singh, who sources have said is planning to team up with private-equity funds to infuse funds in to the carrier.

 SpiceJet clears dues of employees, fuel companiesMoney-losing SpiceJet had delayed employees' salaries for November and briefly grounded its fleet this month for want of cash. Its majority owner, billionaire Kalanithi Maran's Sun Group, has said it cannot afford a bailout.

SpiceJet has bank loans of Rs 300 crore ($47 million), Kapoor said, adding Friday's meeting was "very constructive". He did not elaborate.

Singh and government officials were not immediately available to comment.


Your guide to the latest election news, analysis, commentary, live updates and schedule for Lok Sabha Elections 2019 on firstpost.com/elections. Follow us on Twitter and Instagram or like our Facebook page for updates from all 543 constituencies for the upcoming general elections.

Updated Date: Dec 26, 2014 17:53:43 IST

Also See