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GMR says Kingfisher making cash and carry payments to airports
April 10, 2012 / 5:37 AM / 6 years ago

GMR says Kingfisher making cash and carry payments to airports

NEW DELHI (Reuters) - 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.

Customers stand at a Kingfisher Airlines reservation office at the domestic airport in Mumbai February 16, 2012. REUTERS/Vivek Prakash/Files

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

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