New Delhi: Private airlines Spicejet, Jet Airways (and subsidiary JetLite) and Vijay Mallya’s grounded Kingfisher owe state-owned Airports Authority of India (AAI) almost R500 crore in unpaid airport usage fees and penal interest on the base amount.
According to information submitted in Parliament, Kingfisher tops the list with R172.69 as of June 30, 2014, followed by Spicejet’s R110.86 crore and the Jet Group’s R93.07 crore. The total amount of penal interest raised on these private airlines during the last three years and the current year, works out to R115 crore approximately.
?Interest on delayed charges is levied by AAI @ 12% per annum on traffic charges as per its approved credit policy. Penal interest is charged due to delay in the settlement of the bills. Security deposit is being taken from the private airlines and in cases where delay persists, besides encashing the security deposit, the defaulting airlines are put up on cash and carry basis,” a statement made by the civil aviation ministry said.
It added that in case of Kingfisher, which has closed its operations, a case has been filed in the Mumbai High Court.
22/07/14 Financial Express
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According to information submitted in Parliament, Kingfisher tops the list with R172.69 as of June 30, 2014, followed by Spicejet’s R110.86 crore and the Jet Group’s R93.07 crore. The total amount of penal interest raised on these private airlines during the last three years and the current year, works out to R115 crore approximately.
?Interest on delayed charges is levied by AAI @ 12% per annum on traffic charges as per its approved credit policy. Penal interest is charged due to delay in the settlement of the bills. Security deposit is being taken from the private airlines and in cases where delay persists, besides encashing the security deposit, the defaulting airlines are put up on cash and carry basis,” a statement made by the civil aviation ministry said.
It added that in case of Kingfisher, which has closed its operations, a case has been filed in the Mumbai High Court.
22/07/14 Financial Express
