GMR Infra says no more credit to Kingfisher Air
GMR Infrastructure said on Friday that it has asked Kingfisher Airlines to pay up a substantial chunk of its outstanding dues to the airport operator, which amount to Rs 80 crore.india Updated: Nov 11, 2011 21:15 IST
GMR Infrastructure said on Friday that it has asked Kingfisher Airlines to pay up a substantial chunk of its outstanding dues to the airport operator, which amount to Rs 80 crore.
In response to a question on whether the company planned to defer its decision to put the Vijay Mallya-promoted airline on a cash-and-carry basis, GMR’s chief financial officer for its airport division, Sidharath Kapur, said they were in talks with the airline for the clearance of dues and were awaiting its response to their request for payment.
“We have been in discussions with them over the past many weeks for clearance of our dues, and they have promised us that they will clear a significant portion of the dues, which currently are of the order of Rs 80 crore,” said Kapur.
The dues are jointly owed to the Delhi International Airport and the Hyderabad International Airport, he added.
He also disclosed that the company will not be extending any further credit to the airline. “We are waiting for a response from them and we are waiting for a tangible action from their side in clearing the dues,” Kapur said.
However, he said that they had not imposed any deadline on Kingfisher Airlines to clear the dues and were in talks for finalising a timeline for the payment of dues.
First Published: Nov 11, 2011 21:12 IST