Mumbai: Even as the crisis-hit Kingfisher Airlines (KFA) cancelled 40 more flights on Friday at the risk of displeasing more fliers, the airline is under pressure to pay up its dues, the most outstanding of which are owed to oil companies and airport operators.
Sources revealed that the net dues, which Kingfisher has to pay to Bharat Petroleum (BP), Hindustan Petroleum (HP) and Indian Oil Corporation (IOC), are more than Rs 900 crore. While HP and BP have already terminated their services to KFA -- over non-payment of dues to the tune of Rs 650 crore and Rs 250 crore respectively -- IOC has put the airline on cash-and-carry basis. Incidentally, the issue with BP is in court. But the oil companies are not the only ones that are getting impatient with KFA's arrears.
After being grilled by the top three petroleum giants, the airline may get another blow from the airports, which have also decided to supply fuel to it on a cash-and-carry basis, or in other words: no credit, just pay and operate. Sources closes to airport operators told MiD DAY that Kingfisher owes more than Rs 400 crore to different airports in the country. The dues owed to private-run airports in Mumbai, Delhi, Bangalore and Hyderabad together amount to around Rs 180 crore.
12/11/11 Bipin Kumar Singh/MiD DAY
To Read the News in full at Source, Click the Headline
0 comments:
Post a Comment