India's popular airline makes final bid to attract investors; 1,400 laid off

NEW DELHI: SpiceJet is set to cut around 1400 jobs as part of a cost-cutting strategy to attract investors. The move aims to reduce the company's overall expenses. Currently, SpiceJet employs 9000 workers across its fleet of 30 planes, including eight planes on lease from foreign companies.

The airline spends approximately 60 crore rupees on employee salaries. Recent complaints about delayed salary payments have surfaced, though SpiceJet's spokesperson denies any delays stating that the company is undergoing a transition phase and has secured multiple investors. Founded in 1989, SpiceJet boasted 118 aircraft and over 16,000 employees in 2019, while its rival, Akasha Air had 23 planes and 3500 employees. Despite this, both companies held only a four percent market share in the domestic market.