Kingfisher not on cash-and-carry-mode: GVK

Airport operator GVK on Thursday said that as of now they had not put Kingfisher Airlines on cash-and-carry mode as the airline has paid some of its dues.

"As of now we have not put them on cash-and-carry mode", GVK chairman G V Krishna Reddy said. Cash-and-carry mode entails availing services only after cash payment.

He said the airlines has paid up Rs 20 crore (Rs 200 million) and has committed to pay rest of its dues. So, as of now it has decided not to put it on cash-and-carry mode but 'wait and watch'.

He refused to divulge the total amount the airlines owed it. On airlines, in general, that defaulted on payments, he admitted that sometimes big airlines do default on the payment but some are prompt in payments.

The GMR Group, which runs the Delhi and Hyderabad airports, had decided to put Kingfisher Airlines on the cash-and-carry mode for default payment.

The Airports Authority of India had also asked the airlines to clear dues or to be on cash-and-carry mode. Kingfisher Airlines owed Rs 184.87 crore (Rs 1.84 billion) to the AAI on account of landing, parking and navigation charges, Civil Aviation Minister Praful Patel had recently informed the Parliament.