Pay up or face the consequences, that is the stern warning given to debt ridden Kingfisher Airlines by the Mumbai International Airport Limited (MIAL) has asked the carrier to pay outstanding dues of Rs105 crore by May 25, reports CNBC-TV18’s Swati Khandelwal.
MIAL had written to Kingfisher Airlines on May 7 stating that they need to pay this amount by May 25. Importantly, these outstanding dues do not just include the parking and the landing charges, but also the Passenger Service Fee (PSF) and ADF charges which the airlines have collected on behalf of the airport operator in Mumbai.
MIAL has asked the airline to pay this or else they will actually have to put the carrier on cash and carry basis starting May 14. Now the new schedule according sources is that they need to pay Rs25 crore by May 10. Another Rs25 crore will have to be paid by May 16 and the next Rs25 crore should be paid by May 20. And the balance of about Rs30.71 crore should come to MIAL by May 25.
10/05/11 CNBC-TV18/Moneycontrol.com
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