SpiceJet to give payment plan to AAI on Monday

Of the Rs 1,500-cr investments announced under a govt-approved revival plan, the first tranche of Rs 100 cr is believed to have been paid in January

SpiceJet is expected to present a complete payment plan to state-owned Airports Authority of India (AAI) on Monday, to avoid being put on a cash and carry mode that could severely impact daily operations, Business Standard has learnt from sources in the aviation ministry.

The payments to AAI will be made a day after the airline gets the second tranche of investments worth Rs 400 crore from founder-promoter Ajay Singh on Sunday. Of the Rs 1,500-crore investments announced under a government-approved revival plan, the first tranche of Rs 100 crore is believed to have been paid in January.

SpiceJet’s total dues to AAI have now climbed to Rs 330 crore (including penal interest) on Thursday, from around Rs 250 crore at the beginning of December last year. However, a ministry official said that for the past few weeks the no frills airline is making daily payments to AAI.