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MUMBAI, MAY 28 (AGENCIES):
Pay up or don’t fly, two airports tell Air India, Kingfisher
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Published on 28 May. 2011 11:12 PM IST
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The Delhi and Hyderabad airports have put loss-making carriers Kingfisher Airlines and state-run Air India on “cash-and-carry” mode from June 1, which means the two firms, would have to pay outstanding dues to the airports to continue operating flights.
The airports took the step “after continued deliberations with these airline companies failed to yield payments of outstanding dues from these airlines”, GMR Group, operator of the two airports, said.
Air India owes the two airports around `280 crore ($62 million) while Kingfisher has outstanding payments worth about `88 crore, a GMR spokesman said.
Hurt mainly by high cost of aviation turbine fuel, both carriers have been posting losses.
Kingfisher posted a net loss of `1,027 crore for the year ending March.
Air India, which witnessed a pilots’ strike recently, has not yet disclosed its latest annual results. It posted a net loss of `5,550 crore in 2009-10.

 
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