Moneycontrol PRO
HomeNewsBusinessCompaniesSpiceJet increases payment to AAI for services availed

SpiceJet increases payment to AAI for services availed

The injection of the funds is part of the new owner's Rs 1,500-crore investment plan to revive the airline. Earlier this month, SpiceJet had paid USD 10 million to three lessors towards rentals for six of its Boeing 737-800 aircraft. The dues cleared were for the period till October.

March 11, 2015 / 19:48 IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Budget carrier SpiceJet, which owes nearly Rs 300 crore to the national airports operator for landing, parking and other charges, has increased the payment for the services to AAI after the airline received Rs 500 crore equity infusion from the new owner.

The airline is now paying Rs 75 lakh per day to the airports operator for availing the services as against its per day billing of about Rs 70 lakh, official sources said here on Wednesday. "SpiceJet was earlier paying Rs 50 lakh per day to AAI for the landing, parking and other charges.

However, the airline has now started paying Rs 75 lakh to it against its daily billing of about Rs 70 lakh," they said. Its total outstanding towards Airports Authority of India (AAI) at present stands at Rs 297 crore, they said, adding, "We are expecting a partial payment of these dues from the airline shortly".

The airline has recently cleared dues towards tax payments and employees' salary, besides clearing dues to some of the aircraft leasing companies. Ajay Singh, who acquired the ownership of the no-frills airline from the erstwhile promoter Maran family as part of its revival plan, had late last month pumped in Rs 500 crore in the carrier with one more installment of the same amount expected to come in this month.

The injection of the funds is part of the new owner's Rs 1,500-crore investment plan to revive the airline. Earlier this month, SpiceJet had paid USD 10 million to three lessors towards rentals for six of its Boeing 737-800 aircraft. The dues cleared were for the period till October.

SpiceJet has a fleet of 17 leased Boeing 737-800s and owns 15 Bombardier Q-400s. The airline has also cleared tax dues against Tax Deducted at Source (TDS) payments and service tax as well. Singh, as the owner now, holds 60.31 percent stake following the exit of the Maran family. 

first published: Mar 11, 2015 07:48 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