SpiceJet Initiates Workforce Reduction and Cost-Cutting Measures in Bid to Attract Investors

Facing financial challenges, SpiceJet, one of India’s prominent airlines, is making a final push to attract investors by implementing a cost-cutting strategy that includes laying off around 1,400 employees. The airline, currently operating a fleet of 30 planes, is looking to streamline its operations and reduce overall expenses. Despite having 9,000 employees, including eight planes on lease from foreign companies, SpiceJet is grappling with a salary expenditure of approximately 60 crore rupees. Complaints about delayed salary payments have emerged, though the airline’s spokesperson refutes such claims, attributing them to a transitional phase. Founded in 1989, SpiceJet, at its peak in 2019, boasted 118 aircraft and over 16,000 employees, yet both it and its rival, Akasha Air, with 23 planes and 3,500 employees, held only a four percent market share in the domestic aviation market.

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