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SpiceJet CFO resigns amid widening losses, mid-air incidents – Economic Times

SpiceJet’s Chief Financial Officer Sanjeev Taneja resigned on Wednesday. The resignation comes amid reports of widening losses and a series of mid-air incidents.

His resignation is with effect from August 31, 2022.

The low-cost airline reported a loss of Rs 789 crore for the quarter ended June 30. In the same quarter a year ago, it had seen losses of Rs 729 crore.

The company had also registered a loss of Rs 485 crore for the quarter ended March.

It may be mentioned that the March quarter results had been delayed due to a cyber security attack.

said it would raise funds up to $200 million. However, a number of banks have raised concerns about loans to the carrier.

The Board has identified a candidate for the Chief Financial Officer’s position, the company said. “The vacancy shall be filled in the month of September 2022 and the necessary disclosure regarding such appointment shall be made upon completion of all formalities,” it said.

Earlier today, employees at the airline company said that their salaries had been delayed for the second consecutive month, despite the company’s claim that the payments were being made in a “graded format.”

The payment of salaries to staff, including flight crew, for the month of July was delayed, employees said. Many still had not received Form 16 for the fiscal years 2021–2022, they added.