Rs 77 cr dues paid to AAI, claims Kingfisher

New Delhi: Kingfisher Airlines today said it has paid an amount of Rs 77 crore outstanding towards the Airports Authority of India and is in full compliance of agreed credit terms with the latter.
Reacting to reports that the a bank cheque of Rs 77 crore given to the Airports Authority of India (AAI) by the airline had bounced, the airlines said it has not only paid AAI the amount of Rs 77 crore but is in full compliance of agreed credit terms whereby outstanding amounts at any given point are fully covered by a valid Bank Guarantee.
"In this case, while a cheque was issued to AAI, KFA decided to make a wire transfer and asked AAI to return the cheque. Inadvertently, AAI presented the cheque without any notification to KFA," Kingfisher Airlines (KFA) Chairman Vijay Mallya said in a statement.
01/05/09 Indopia

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Categories: Airports May 2009, Kingfisher May 2009