SpiceJet employees have alleged a delay in the disbursal of salaries for the second straight month, with the budget airline saying the payments were being made in a "graded format", as per a PTI report yesterday.
There was a delay in disbursal of salary for staff, including flight crew, for the month of July and many are yet to get Form 16 for the financial year 2021-22 as well, SpiceJet employees claimed.
"The salary disbursal was timely for June. Also, the salaries are yet to match the pre-COVID-19 levels. The salaries being disbursed to captains and first officers are not even 50% of what they used to be before the pandemic outbreak in March 2020," an employee told PTI.
However, SpiceJet claimed it has started salary disbursal in a "graded format".
"We have started crediting salaries from today. Like the previous month, salary will be credited in a graded format," the airline said in a statement, the report mentioned.
In an internal communication on Wednesday,? SpiceJet's Human Resources team reportedly informed employees about the delay, mentioning that the salaries for the month of August shall be released in a staggered manner starting end-August until mid of next month.
And the troubles do not end here. The low-cost airline also declared losses of Rs 1,725 crore for the full year of FY 2021-22, and reported a loss of Rs 783.60 crore for April-June of FY 2022-23 as compared with a loss of Rs 729 crore in the year-ago period, as per ET report.
Moreover, SpiceJet also said that its Chief Financial Officer Sanjeev Taneja has resigned and the company will be appointing a replacement in September.
The cash-strapped airline has also passed a board resolution to appoint bankers to raise capital of $ 200 million (Rs 1,591 crore). At the end of FY 2021-22, the company had cash and cash equivalents of Rs 9.6 crore and bank balances of Rs 50.72 crore, the report mentioned.
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