GMR Infra works out amicable solution with AI, Kingfisher

Air India and Kingfisher today heaved a sigh of relief after they were allowed to carry on their operations without cash-and-carry basis at GMR-led Delhi and Hyderabad airports from tomorrow.
Following the intervention of Civil Aviation Ministry, the managements of GMR-led Delhi Airport International Limited (DIAL) and GMR Hyderabad International Airport Limited (GHIAL) have decided to defer the cash-and-carry notices for the national carrier and Kingfisher airlines from June 1.
According to sources, Air India, DIAL and GHIAL have worked a comprehensive payment plan for repayment of outstanding dues of Rs 217.08 crore to DIAL and Rs 35.89 crore
to GHIAL.Similarly, Kingfisher also had a due of Rs 67.98 crore at IGI and Rs 21.89 crore and they have also assured that they would clear their dues accrued in April and May.
The Civil Aviation Ministry is said to have told the GMR group that Air India has dues with the government, and as soon as the government pay back the dues, which are to the tune of Rs 1,200 crore, to the national carrier it would clear its dues from May 22.
31/05/11 PTI/Moneycontrol.com

To Read the News in full at Source, Click the Headline

Categories: Air India Jun 2011, Airports Jun 2011, Kingfisher Jun 2011