Thursday, November 05, 2020

GoAir submits two-step plan to AAI for settling dues, SpiceJet paying Rs 55-60 lakh daily

Low-cost airline GoAir has submitted a two-step plan to Airports Authority of India (AAI) for payment of pending dues, officials aware of the development told CNBC-TV18.

AAI charges airlines for using air navigation services, landing, parking among other facilities. As of August, GoAir had pending dues amounting to Rs 52.2 crore towards AAI.

As per the plan, GoAir is expected to settle dues of the period up to June in 12 monthly instalments commencing January 2021 and dues of the period between July and early August are being paid over four instalments with effect from October 2020.

"An amount of Rs 1.54 crore has been received (from GoAir) on October 23," another official said on dues payment.

It is important to note that GoAir and SpiceJet have been on cash and carry mode since August 11 and August 1 respectively.

In the case of SpiceJet, the airline has increased daily payment to Rs 55 lakh with effect from mid-October and is expected to raise the daily payment to Rs 60 lakh from early November. For SpiceJet, dues stood at Rs 122.7 crore as of August.

IndiGo, AirAsia India and Vistara are making the payment as per plan for the bills until June 30 and are settling bills regularly for July onwards, officials said. Their dues of the period up to June 30 are likely to be settled by early November, officials added. As of August 31, IndiGo dues to AAI stood at Rs 123.33 crore, that of AirAsia India at Rs 15.08 crore and for Vistara it was at Rs 2.54 crore.

05/11/20 Anu Sharama/CNBC TV18

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