Team Blitz India
NEW DELHI: SpiceJet is reportedly laying off 1,400 employees, about 15% of its workforce, to meet a cash crunch and attract investor interest.
The airline currently has 9,000 employees and operates about 30 planes. Of these, eight are wet-leased from foreign carriers, along with crew and pilots. The budget carrier has reportedly confirmed the cuts.
The move, according to an Economic Times report, is being done to align companywide costs against operational needs. The airline has a Rs 60 crore salary bill, the report added.
SpiceJet has reportedly been delaying salary payments for several months. Many, the report claims, haven’t yet got their January pay. The low-cost carrier is eyeing a fund infusion of Rs 2,200 crore.
The airline said the funding plans are on track and an announcement is expected soon. At its peak in 2019, SpiceJet had a fleet of 118 planes and 16,000 employees.