SpiceJet is grappling with a severe financial and operational crisis, with reports indicating job cuts, delayed salaries, and rising liabilities. The airline has reportedly initiated workforce reductions, impacting over 500 employees as part of urgent cost-cutting measures.
Employees are facing salary delays of up to two to three months, with some placed on leave without pay, reflecting cash flow challenges. The situation has created uncertainty among staff and raised concerns about employee morale.
Operational capacity has also declined sharply, with the airline now operating a significantly reduced fleet. This has affected both domestic and international services, limiting its market presence in an already competitive sector.
Additionally, pending dues related to GST, TDS, and PF have added to financial stress. Industry experts believe the airline is seeking fresh funding or restructuring, with the coming weeks crucial for its stability.