Indian carriers owe Rs 17.25 billion to Airports Authority
   
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Indian carriers owe Rs 17.25 billion to Airports Authority

Last Updated: Wednesday, March 28, 2012, 14:00
 
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Indian carriers owe Rs 17.25 billion to Airports Authority
New Delhi: India's carriers owed a total of Rs 17.25 billion (USD 245 million) to the state-run Airports Authority of India as of Dec. 31 for availing airport facilities such as landing and parking of aircraft, Aviation Minister Ajit Singh said Wednesday.

Loss-making national carrier Air India Ltd. owes the most, about Rs 12.51 billion, while Kingfisher Airlines Ltd. has arrears of Rs 2.55 billion, Singh told lawmakers in the lower house of parliament.

Jet Airways (India) Ltd. owes Rs 896.3 million and low-cost carrier SpiceJet Ltd. has arrears of Rs 365.8 million, he said.

In case of delays in payments, the Airports Authority issues notices to the airlines to settle the bills. The authority charges interest on account of delays, and in cases where delay persists, it encashes the security deposit of the defaulting airline and puts it on cash and carry, Singh said.

Bureau Report



First Published: Wednesday, March 28, 2012, 13:52


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