Dutch co files plea in court to wind up AI

New Delhi: The Netherlands-based international aircraft leasing company, AirCap, has filed a petition in the Delhi High Court seeking the winding up of Air India on grounds that the airline has not been able to pay the rent and charges for putting two leased Airbus A-320 aircraft into operation again.
Air India, however, claims that AirCap was being unreasonable and points out that the airline has not defaulted in payments to the Dutch company. Confirming that the petition has been filed, Mr Ravi Nath, Partner, Rajinder Narain & Co, the law firm representing AirCap, told Business Line that Air India was bound to return the aircraft in a “properly maintained condition”.
The Dutch company claims this, however, is not being done by the airline. AirCap is seeking accumulated rental charges of $840,000 from the airline and also the interest costs and damages. Besides, it wants the airline to return the aircraft.
The airline, which has taken the two aircraft on lease from AirCap, is incurring a monthly rent of $140,000 for each, Mr Nath said. The two aircraft are currently in a Maintenance, Repair and Overhaul (MRO) facility in Jordan, he said.
04/09/09 Ashwini Phadnis/Arun S/Business Line

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Categories: Foreign Sep 2009, NACIL Sep 2009