Hyderabad, April 16:
The ailing Kingfisher is in talks with GMR Group on payment schedule
for outstanding dues. The airline had agreed upon a schedule earlier
but could not follow it.
?They have been facing a bad patch. They were not able to meet that
schedule. But they did clear part of their dues in EMIs. It has reduced
the number of flights and operating on cash-and-carry these days. They
are paying about Rs 25 lakh a day,? Mr P.S. Nair, Chief Executive
Officer (Corporate) of Airport Sector in GMR Group, told Business Line.
The outstanding dues from airlines (mainly from Kingfisher and Air
India) are put at Rs 300 crore. Of this, Kingfisher's share is about Rs
50-60 crore.
?It is not current payables but outstanding dues which is a cause of
worry,? he said. Airlines, generally, get a month's time to pay from
the date of bill generation. ?That is a general norm,? he said.
GMR was upbeat about the reported Rs 30,000 crore plan to revive the
fortunes of Air India. Mr Nair was hopeful that Air India would payback
its dues to GMR when huge funds were infused.
Delhi airport bleeding
Mr Nair said that the Delhi airport is bleeding with its efforts to increase airport fee not getting through.
?Since 2001, there was only one hike in 2009. That too was a
pittance. It should at least cover increase in inflation. What we have
been asking for is not something out of the box. We have prepared
proposals according to the Concession Agreement we signed,? he said.
The airport operator has asked for a fee of Rs 770. ?The process is on,? he added.
Male Airport
Mr Nair said the company was confident of completing the first terminal in 2014 at Male according to schedule.
The political situation had not impacted the project timeline there.
?There is no decline in passenger traffic (after political events),? he
said.
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