Mumbai: Budget airline SpiceJet announced on Tuesday that it failed to pay statutory dues amounting to Rs 427 crore between March 2020 and August 2024, citing its "constrained financial position", media reports said.

SpiceJet has admitted not paying about Rs 220 crore in TDS deducted from employees' salaries and over Rs 135.3 crore in PF between April 2020 and August 2023. The airline seeks to raise Rs 3,000 crore by the end of the month to stay afloat and reactivate its grounded fleet.

SpiceJet, facing severe financial strain, has admitted to not paying Rs 220 crore in TDS and Rs 135.3 crore in PF dues from April 2020 to August 2023. The airline is attempting to raise Rs 3,000 crore to stabilize its operations and address outstanding liabilities,

SpiceJet, one of India’s prominent low-cost airlines, has revealed a significant financial shortfall, disclosing unpaid dues amounting to Rs 355 crore