Kingfisher says has no dues to tax dept

Kingfisher Airlines said on Tuesday that there were no dues to be currently paid to the tax department, after television channels reported that the debt-laden carrier's bank accounts have been frozen over unpaid tax dues.

May 30, 2012 / 09:58 IST

Kingfisher Airlines said on Tuesday that there were no dues to be currently paid to the tax department, after television channels reported that the debt-laden carrier's bank accounts have been frozen over unpaid tax dues.

Kingfisher, owned by liquor baron Vijay Mallya, has been struggling to repay USD 1.3 billion of loans and has slashed the number of its daily flights, as it seeks cash to continue operations.

Kingfisher's bank accounts were frozen earlier this year by tax authorities for non-payment of tax deducted at source (TDS), severely hurting the company's ability to keep flying.

The freezing order was later removed after the airline agreed to pay dues in a regular schedule.

first published: May 29, 2012 09:02 pm

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