Speaking to CNBC-TV18, the airline said salaries for May have been disbursed to junior and support staff, while payments to the remaining employees are being released in a phased manner.
The airline did not specify a timeline for completing the salary payments.
The disclosure comes as SpiceJet continues to operate a smaller network than originally planned for the current summer season.
Operations remain below planned capacity
SpiceJet said it is currently operating 85 daily flights, compared with around 140 flights that were proposed under its Summer Schedule.
The airline added that it has 14 operational aircraft in its fleet, including three Airbus A320 aircraft operating under damp lease arrangements.
Separately, SpiceJet’s domestic market share declined to 1.9% in June, down from 3.9% in January, according to industry data, reflecting a reduction in the airline’s presence in the domestic aviation market over the first half of the year.
SpiceJet has been pursuing measures to stabilise its operations, including inducting leased aircraft and addressing pending financial obligations, as it seeks to restore capacity and improve its financial position.
Also read: NCLT reserves order on SpiceJet insolvency plea over ₹60 crore default claim
The airline’s financial challenges also remain under legal scrutiny. The National Company Law Tribunal (NCLT) has reserved its judgment in an insolvency petition filed by aircraft lessor Aviator ML against SpiceJet, with a verdict expected shortly.
The petition has been filed under the Insolvency and Bankruptcy Code (IBC), with Aviator ML alleging a payment default of around ₹60 crore. The dispute relates to a Boeing 737 aircraft that had been leased to the airline.
The case is the latest in a series of legal disputes involving SpiceJet and its aircraft lessors and creditors over the past few years. The airline has faced multiple claims related to unpaid lease rentals, maintenance obligations and other contractual dues.
SpiceJet has sought to strengthen its financial position through fundraising and has reached settlement agreements with several lessors, including Aircastle, Celestial Aviation and Wilmington. However, it continues to face litigation from lessors including Aviator ML, Sunbird France 02 SAS and CIT Group Finance.
If the insolvency petition is admitted by the NCLT, it would trigger the corporate insolvency resolution process under the IBC against the airline.
Shares under pressure
Shares of SpiceJet ended at ₹11.30 on Friday, up 0.27% for the day. The stock has remained under pressure over a longer period. It has declined 6.07% over the past week, 8.13% over the past month and 15.42% in the last three months. On a year-to-date basis, the stock has fallen 62%, while it is down 69.08% over the past one year and 61.37% over the last three years.
