MIAL Asks Kingfisher To Pay Up Daily From Saturday

Mumbai, Dec 1: The Mumbai Airport authorities (MIAL) have threatened to put cash-starved Kingfisher Airlines on a cash-and-carry mode again from Saturday if the carrier fails to pay up the dues of around Rs 90 crore.

The development comes amidst reports that even the state-run Airport Authority of India has threatened to put the airline—which is sitting on a debt of over Rs 12,000 crore on cash-and-carry mode.

The airline owes Rs 240 crore to national airports operator and the move reportedly came, according to an official, after a cheque issued by Kingfisher bounced.

Airlines usually pay monthly charges to the airport operators. But under the cash-n-carry mode, Kingfisher, which operates maximum flights from Mumbai and Delhi, will have to make daily payments.

From: http://ping.fm/ctZw5