AAI to give Kingfisher 15-day credit window

New Delhi: In the midst of performing a life-saving surgery on Air India's Maharaja, the government has decided to give some relief to private desi carriers too. Among the most financially strained airlines, AI has been put off cash-and-carry by oil companies and Airports Authority of India (AAI) has decided to give Kingfisher a 15-day credit period. And relatively better off Indian airlines like low cost carriers could also get some reprieve with the authorities reviewing their long-pending demands for more foreign routes.
"With dues of over Rs 200 crore, Kingfisher was giving us close to a crore a day after being put on cash-and-carry some months back. Now we have decided to give them a 15-day credit period under which they'll pay Rs 15 crore every fortnight. From next month, the airline has assured to pay us Rs 35 crore a month to gradually clear off their dues," said a senior AAI official. The state-run airport operator says AI has dues of over Rs 800 crore but "we can do nothing about that".
07/09/11 Saurabh Sinha/Times of India

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

Categories: Kingfisher Sep 2011