New Delhi: The Airports Authority of India (AAI) has encashed a bank guarantee of R100 crore of Kingfisher Airlines after the latter failed to clear airport charges to the tune of R250 crore. Airport charges include landing, parking and air navigation charges which the airlines pay to AAI.
Kingfisher Airlines is the only private scheduled carrier to have defaulted on payment of such charges along with the state-owned Air India, which owes about R720 crore.
“We have encashed their guarantee and put them on cash-and-carry basis,” a senior AAI official told FE. The cash-and-carry mode requires the company to pay upfront for using its infrastructure.
The official added that AAI was left with no option but to encash bank guarantee since the company did not clear the outstanding dues in spite of several notices and reminders.
06/07/11 Nirbhay Kumar
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