With the original owner Ajay Singh now firmly in the pilot's seat, budget airline SpiceJet Ltd may well have a chance of flying away from a Kingfisher Airline kind of crash.
Speaking to DNA, the airline's chief financial officer (CFO) Kiran Koteshwar, said the airline has begun paying staff salaries and service taxes on time.
"We are current on salary and service tax payments, and have started making payments to all our suppliers on time. There is still a lot to be done but all indicators are good with our load factor at around 80% and on time performance (OTP) of 90% in the current month," he said.
The Mallya-owned airline, which was hit by crisis in 2012, defaulted on its payment of employee salaries and taxes. Its bankers and creditors are still trying to recover their debts and dues without much success.
The finance chief of SpiceJet said the situation was slowly improving with the airline meeting its commitment given to airports and oil companies.
"We are paying oil companies on time and airports are being paid on a daily basis. As and when cash comes in, we will clear all dues of our creditors," he said.
24/02/15 Praveena Sharma/Daily News & Analysis
Speaking to DNA, the airline's chief financial officer (CFO) Kiran Koteshwar, said the airline has begun paying staff salaries and service taxes on time.
"We are current on salary and service tax payments, and have started making payments to all our suppliers on time. There is still a lot to be done but all indicators are good with our load factor at around 80% and on time performance (OTP) of 90% in the current month," he said.
The Mallya-owned airline, which was hit by crisis in 2012, defaulted on its payment of employee salaries and taxes. Its bankers and creditors are still trying to recover their debts and dues without much success.
The finance chief of SpiceJet said the situation was slowly improving with the airline meeting its commitment given to airports and oil companies.
"We are paying oil companies on time and airports are being paid on a daily basis. As and when cash comes in, we will clear all dues of our creditors," he said.
24/02/15 Praveena Sharma/Daily News & Analysis
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