AAI asks SpiceJet to pay Rs 200 million by Nov 30 to clear its dues

The Airports Authority of India (AAI) has served a notice to Ajay Singh-controlled budget carrier SpiceJet, asking it to pay Rs 200 million by November 30 to partially clear its dues, an AAI source said.

The authority claims the airline's dues have crossed the 80 per cent threshold of its security deposit.

According to the AAI norms, all the carriers are supposed to keep their dues within 80 per cent of their security deposit with the state-run aerodrome operator.

SpiceJet's outstanding towards landing, parking and route navigation charges currently stands at Rs 1.17 billion, against its security deposit of Rs 1.04 billion, the source said.

"We have sent a notice to SpiceJet yesterday (Tuesday) to pay Rs 200 million by November 30 to bring down their dues at par with the 80 per cent threshold of the security deposit," the source said.

When contacted, a SpiceJet spokesperson said that payments to AAI and other vendors are being made by the airline as per the schedule.

"We remain firmly committed to all our obligations," the spokesperson said.

In a regulatory filing, the airline reiterated its comments saying, "...it is making its payments as per stipulated timelines and we stand committed to all our contractual obligations."

The Gurugram-based no-frills airline, which operates an average 446 flights daily to 57 destinations, reported a net loss of Rs 3.89 billion for the September quarter on a surge in fuel costs and forex losses. The company had posted a net profit of Rs 1.05 billion in the same period of last financial year.

Besides, the airline has also been told to pay at least Rs 25 million against its per-day billing for faster clearance of its dues, the AAI source said.

If the carrier fails to pay Rs 200 million by the stipulated deadline, the AAI may increase the payment amount against its billing to Rs 35 million, the source added.