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AAI asks SpiceJet to clear Rs 20 crore dues by November 30

News Nation Bureau | Edited By : Salka Pai | Updated on: 29 Nov 2018, 12:06:31 AM
AAI asks SpiceJet to clear Rs 20 crore dues by November 30 (Representational Image)

New Delhi:

The Airport Authority of India issued a notice to SpiceJet to partially clear its dues up to Rs 20 crore by November 30, said sources.

“We have sent a notice to SpiceJet yesterday (Tuesday) to pay Rs 20 crore by November 30 to bring down their dues at par with the 80 per cent threshold of the security deposit,” the source said.

The AAI claims the airline’s dues relate to parking fees, navigation route and landing at airports managed by the authority have crossed the deposits worth Rs 104 crore and stands at Rs 117 crore (more than 80 per cent of threshold of its security deposit).

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As per the AAI norms, all the carriers are supposed to keep their dues within 80 per cent of their security deposit with the state-run aerodrome operator.

Meanwhile, the SpiceJet official said an additional bank guarantee of Rs 20 crore was provided to the AAI on Wednesday.

The sources report also says AAI may increase the daily deposit to be paid from Rs 2.5 crore to Rs 3.5 crore.

If the carrier fails to pay Rs 20 crore by the stipulated deadline, the AAI may increase the payment amount against its billing to Rs 3.5 crore, the source added.

Earlier in the day, a SpiceJet spokesperson said that payments to the AAI and other vendors are being made by the airline as per the schedule.

“We remain firmly committed to all our obligations,” the spokesperson said.

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In a regulatory filing to the BSE, the Ajay Singh-controlled low-budget carrier SpiceJet said that it is making its payments as per “stipulated timelines” and it stands committed to all our contractual obligations.

The no-frills airline, which operates an average 446 flights daily to 57 destinations, reported a net loss of Rs 389.37 crore for the September quarter on surge in fuel costs and forex losses.

The company had posted a net profit of Rs 105.27 crore in the same period of last fiscal.

Besides, the airline has also been told to pay at least Rs 2.5 crore against its per-day billing for faster clearance of its dues, the AAI source said.

(With PTI inputs)

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First Published : 29 Nov 2018, 12:06:22 AM