SpiceJet shares fell over 4% to Rs 62.9 in Wednesday’s intraday trade on BSE as investors remain apprehensive about fund infusion.
The cash-strapped budget airline is short on liquidity, and investors are apprehensive about fund infusion, CNBC-TV18 said, citing sources. Additionally, the airline company has also delayed salary payments to many of its employees.
The delay in salaries, as well as in depositing the money due to pension funds and taxes deducted from the salaries, has come at a time when the airline owned by Ajay Singh is considering layoffs.
