SpiceJet Increased salary of employees by 20 percent, hopes to pay TDS soon

SpiceJet on Thursday decided to increase the salary of Captain and Senior First Officer by 20 percent. It was told by the company that this decision will be applicable from October. According to the report of news agency PTI, the company’s promoter Ajay Singh had said on Wednesday that the company would deposit the TDS of all the employees in the coming two-three weeks.

Company’s ECLGS loan approved

Earlier, news agency PTI, quoting sources, had told on September 2 that under the ECLGS credit guarantee scheme of the central government, the company would get an amount of Rs 225 crore. SpiceJet Chief Flight Operation Gurcharan Arora said that the loan under the ECLGS Credit Guarantee Scheme of the Central Government has been approved. We have got its first installment. However, he did not say how much money the company got in this.

The ECLGS Credit Guarantee Scheme was started by the Central Government in May 2020 to help companies at the beginning of the Corona epidemic. Under this, companies are given a rebate of 7 percent on the interest of the loan.

SpiceJet going through financial crisis

SpiceJet is facing continuous financial crunch. The company is in talks with investors and banks to address its financial crisis. According to the results announced by the company for one year, there was a loss of Rs 789 crore in the June quarter, which was a loss of Rs 458 crore in March 2022.