Kingfisher owes over Rs 200 cr to AAI

New Delhi: Private air carrier Kingfisher Airlines owes over Rs 200 crore to the Airport Authority of India (AAI), Parliament was informed on Thursday.
In a written reply to the Rajya Sabha, Civil Aviation Minister Vayalar Ravi said Vijay Mallya-promoted Kingfisher Airlines along with Paramount Airways did not settle dues on a regular fortnightly basis.
"Their dues exceeded the security deposit/bank guarantees available with AAI," Ravi said.
As per the details provided by the Minister, as on June 30, 2011, Kingfisher Airlines owes Rs 208.06 crore, while Paramount Airways owes Rs 5.72 crore to AAI.
On the actions taken by the government for recovery of the dues from these two airlines, Ravi said, "Operations of both these airlines have been put on 'cash and carry' basis, bank guarantees submitted by these two airlines have been encashed, penal interest is charged on account of delay in settlement of the bills."
Responding to another query, Ravi said the amount due to AAI from private airlines is Rs 345.27 crore, which includes the dues from Kingfisher and Paramount.
25/08/11 PTI/Economic Times

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

Categories: airports aug 2011, Kingfisher Aug 2011