SpiceJet CFO Sajeev Taneja resigns as losses widen
New Delhi, August 31: SpiceJet, India's low-cost carrier, announced on Wednesday that Chief Financial Officer Sanjeev Taneja has resigned in the face of mounting losses and a string of mid-air incidents.
For the quarter that ended June 30, the company recorded a loss of 7.84 billion rupees ($98.61 million), compared to a loss of 7.31 billion rupees a year earlier.
The company also recorded a loss of 4.85 billion rupees for the March quarter, which it said was delayed owing to a cyber security attack.
SpiceJet stated that it would raise up to $200 million. Some banks, however, have expressed reservations about financing the carrier.
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Meanwhile, SpiceJet employees said on Wednesday that their salaries were delayed for the second month in a row, despite the budget airline's claim that the payments were made in a "graded format."
According to SpiceJet employees, there was a delay in the disbursement of salary for staff, including flight crew, for the month of July, and many are still waiting for Form 16 for the fiscal year 2021-22.
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-PTC News
