SpiceJet may make an important decision to save expenses, more than 1000 employees may be laid off

SpiceJet officials said that there is a possibility of layoffs in all departments. The airline is preparing the final list. We are working on preparing a plan to give leave to management and consultancy employees. Apart from this, he has asked all the departments to give their input.

SpiceJet has not yet released an official statement on the layoffs.

More than thirty aircraft are currently in SpiceJet's fleet, in addition to ten that are leased wet. SpiceJet Chairman and Managing Director Ajay Singh emphasised the value of frugal spending during a meeting with senior airline executives last month. He also promised to personally oversee all significant expenses.

Currently led by Ajay Singh, SpiceJet has experienced multiple ownership transitions since its founding and is currently seeking capital from potential investors. On January 26, the airline announced that it had raised Rs 744 crore.

Under the government's Emergency Credit Line Guarantee Scheme (ECLGS), the airline has also received approximately Rs 1,000 crore in funding, and Singh has pledged to contribute an additional Rs 500 crore. Due to non-payment of dues, lessors have been known to use legal action to reclaim their leased aircraft, as reported by SpiceJet.

India's domestic air traffic is increasing, making it one of the world's fastest-growing civil aviation markets. But SpiceJet has been having trouble for a while. The airline carried 83.90 lakh passengers in 2023 and held a 5.5% share of the domestic market.