Mallya plays down MIAL's cash-and-carry decision

Playing down Mumbai Airport's decision asking Kingfisher Airlines to operate under cash-and-carry mode from December 3, promoter Vijay Mallya on Friday said there was nothing "big" about it and the airline would fly full schedule.
As per MIAL's decision, Kingfisher Airlines will have to pay Rs 60 lakh (Rs 6 million) daily for operating flights, if it fails to clear about Rs 90-crore (Rs 900 million) of dues by December 3.
"Everybody has different credit terms for customers. Passengers in this country have to first pay for tickets before they travel. That's also cash and carry. When we advertise on newspaper or channel we also have to pay, that's also cash and carry".
"I don't understand what's this big thing about cash and carry. If we have pay on weekly or daily basis, people pay. And Flights will operate...we will operate the full schedule," Mallya told reporters in New Delhi .
The development comes amid reports that even the state-run Airport Authority of India has threatened to put the airline -- which is sitting on a debt estimated at around Rs 12,000 crore (Rs 120 billion) -- on cash-and-carry mode.
02/12/11 PTI/Rediff.com

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Categories: airports Dec 2011, Kingfisher Dec 2011