We are guarded against aircraft repossession by GE: Kingfisher

New Delhi: Vijay Mallya-led Kingfisher Airlines on wednesday said that it has got "protection" against repossession of aircraft by GE, the company that has leased four airplanes to the private carrier.
According to media reports, the Bangalore-based airline has defaulted on lease payments for four Airbus-320s to GE Commercial Aviation Services. Reports also said that the latter has asked the Directorate General of Civil Aviation for permission for repossession of the airplanes.
Without confirming or denying that Kingfisher has defaulted on payments, the airline spokesperson said in a statement, "... It would be sufficient to say that the court has heard our application and thought it fit to pass ad-interim orders for our protection."
GE too declined to give details of the issue.
The media reports also mention that GE has asked for permission from DGCA for the four aircraft to be deregistered from the airline.
05/11/08 PTI/The Hindu

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Categories: Foreign Nov 2008, Kingfisher Nov 2008