English
Specials
    Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    The Learning Curve
    The Learning Curve
    HomeNewsBusinessCompaniesGMR defers cash and carry on Kingfisher, AI for 2 airports

    GMR defers cash and carry on Kingfisher, AI for 2 airports

    GMR Group has deferred its cash and carry arrangement with Kingfisher Airlines and Air India for the Delhi and Hyderabad airports as "significant progress has been made regarding payment of their outstanding dues," it said.

    June 01, 2011 / 13:25 IST
     
     
    live
    • bselive
    • nselive
    Volume
    Todays L/H
    More

    GMR Group has deferred its cash and carry arrangement with Kingfisher Airlines and Air India for the Delhi and Hyderabad airports as "significant progress has been made regarding payment of their outstanding dues," it said.


    GMR, which operates both airports, had last week said it would put both carriers on cash and carry mode from June 1 which means the two firms would have to pay oustanding dues to the airports to continue operating flights.


    It has worked out "a comprehensive payment plan" with Air India which covers the repayment of all outstanding dues, while Kingfisher has already paid its dues for April and May, GMR added.

    first published: Jun 1, 2011 12:09 pm

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347