NEW DELHI Kingfisher Airlines (KING.NS) is making regular cash and carry payments to GMR's Delhi and Hyderabad airports, a GMR Group executive said on Tuesday.
Kingfisher owes 750 million rupees and Air India AIN.UL owes 4.5 billion rupees in unpaid dues to GMR Airports Holding Ltd, said Sidharath Kapur, chief financial officer, airports at GMR Group.
Delay in these payments "may severely affect the profitability of Delhi and Hyderabad airports," he said.
(Reporting by Anurag Kotoky; Editing by Aradhana Aravindan)
Trending On Reuters
India's largest drugmaker Sun Pharmaceutical Industries Ltd reported a near-doubling in fourth-quarter profit, although that missed analysts' estimates as weakness in emerging markets outweighed higher sales in India and the United States. Full Article