Budget passenger carrier SpiceJet on Friday said that it has cleared all pending employee provident fund (PF) dues amounting to ₹160.07 crore, spanning over two years.

According to the airlines, it has cleared all pending statutory liabilities, including Tax Deducted at Source (TDS), Goods and Services Tax (GST), and employee salary dues, over the past three months since raising ₹3,000 crore through a Qualified Institutional Placement (QIP).

Notably, the airlines cited that being “current on its statutory dues, it is poised to save significantly on interest payments”.

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Since October, SpiceJet said that it has been utilising internal cash flows to meet its statutory obligations, including PF and TDS payments, reflecting improved financial health and operational discipline.

“We are pleased to announce the clearance of all pending employee PF dues. This marks a new chapter in SpiceJet’s journey. By clearing all pending statutory dues and settling disputes with lessors and creditors, we are demonstrating our unwavering commitment to operational excellence, financial prudence, and the welfare of our employees,” said Ajay Singh, Chairman and Managing Director, SpiceJet.

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“With the successful implementation of our financial turnaround strategy, we are confident in our ability to continue delivering superior service to our customers and achieving sustainable growth.”

In addition to clearing its statutory obligations, SpiceJet has resolved multiple outstanding disputes with aircraft lessors and other creditors.