No KFA cash & carry ops without clearing dues: AAI
12 April 2013 2:14 AM GMT
In its revival plan submitted to aviation regulator Directorate General of Civil Aviation (DGCA)on Wednesday, the cash-strapped airline is understood to have said that it has requested the Airports Authority of India to allow them to fly on cash-and-carry basis, that is pay for the services as and when the airline avails of them.
Airports Authority of India sources said that Kingfisher could be allowed to operate on a cash-and-carry mode only after it clears Rs 390 crore dues to the state-run airports body.
Confirming this, Airports Authority of Indiachairman V P Aggarwal said here that Kingfisher Airlines would have to clear its dues first before its request could be considered.
However, 'we have not received any letter or any such request from them as yet', Aggarwal said.
Earlier, he had said the airline owed over Rs 390 crore, including penal interests, to the Airports Authority of India .
'Our dues to the ailing airlines are more than Rs 390 crore, inclusive of penal interests. So we are asking a firm commitment in that because so far, what they have committed could not be honoured. We are asking for a firm commitment on the payment of the dues,' the Airports Authority of India chairman had said a few weeks ago.
He had then also said that though the airline had given some cheques last year, 'one cheque of Rs 117 crore could not be encashed. The remaining amount was not covered and does not have any sort of guarantee. They have to give some guarantee.
The cheques were presented but they bounced. A legal issue is going on'.After remaining grounded for over six months, Kingfisher Airlines on Wednesday sought regulatory approvals to relaunch its operations and submitted plans to the Directorate General of Civil Aviation on infusion of funds and revival of its flights.
Directorate General of Civil Aviation sources said they would examine the plan thoroughly before taking a call.
Kingfisher Airlines, which owes an estimated Rs 13,582 crore to banks, its staff, airport operators and oil companies, has reported a net loss of Rs 755.17 crore for the third quarter ending December 31 last year.
This was a period in which it did not operate a single flight as it remained grounded since 1 October and its flying permit, suspended that month, expired in December.
Along with its dues to Airports Authority of India and other service providers, Kingfisher Airlines has a total debt of over Rs 7,000 crore to 17-bank consortium led by State Bank of India (SBI) which alone has the maximum exposure of over Rs 1,600 crore in the Vijay Mallya-led airline.
Airports Authority of India sources said that Kingfisher could be allowed to operate on a cash-and-carry mode only after it clears Rs 390 crore dues to the state-run airports body.
Confirming this, Airports Authority of Indiachairman V P Aggarwal said here that Kingfisher Airlines would have to clear its dues first before its request could be considered.
However, 'we have not received any letter or any such request from them as yet', Aggarwal said.
Earlier, he had said the airline owed over Rs 390 crore, including penal interests, to the Airports Authority of India .
'Our dues to the ailing airlines are more than Rs 390 crore, inclusive of penal interests. So we are asking a firm commitment in that because so far, what they have committed could not be honoured. We are asking for a firm commitment on the payment of the dues,' the Airports Authority of India chairman had said a few weeks ago.
He had then also said that though the airline had given some cheques last year, 'one cheque of Rs 117 crore could not be encashed. The remaining amount was not covered and does not have any sort of guarantee. They have to give some guarantee.
The cheques were presented but they bounced. A legal issue is going on'.After remaining grounded for over six months, Kingfisher Airlines on Wednesday sought regulatory approvals to relaunch its operations and submitted plans to the Directorate General of Civil Aviation on infusion of funds and revival of its flights.
Directorate General of Civil Aviation sources said they would examine the plan thoroughly before taking a call.
Kingfisher Airlines, which owes an estimated Rs 13,582 crore to banks, its staff, airport operators and oil companies, has reported a net loss of Rs 755.17 crore for the third quarter ending December 31 last year.
This was a period in which it did not operate a single flight as it remained grounded since 1 October and its flying permit, suspended that month, expired in December.
Along with its dues to Airports Authority of India and other service providers, Kingfisher Airlines has a total debt of over Rs 7,000 crore to 17-bank consortium led by State Bank of India (SBI) which alone has the maximum exposure of over Rs 1,600 crore in the Vijay Mallya-led airline.
Next Story
