NEW DELHI: In a fresh challenge to cash-strapped Air India, Airports Authority of lndia (AAI) has warned to put the airline on cash and carry from Tuesday at Ahmedabad, Bhubaneswar, Chennai and Kolkata airports. AAI has taken this step because of dues from the airline.
While senior AI officials say the airline on a standalone basis owes just over Rs 1,000 crore to AAI with the overall dues for the AI group being over Rs 1,200 crore, AAI did not say what amount it is claiming from AI as dues.
“The competent authority has approved to put the operation of Air India on ‘cash and carry’ basis out of Ahmedabad, Bhubaneswar, Chennai and Kolkata Airports from 00.01 hours of July 7,” says an order issued by AAI GM (finance-revenue) R Ramani on June 30.
AI, whose divestment has been affected by the corona crisis, has requested AAI not to take this step given its financial position. “AI is in stressed financial condition due COVID…. Government has already mentioned that substantial portion of AI debts and excess of current liabilities over current assets would be transferred to AI Asset Holding Ltd (AIAHL-SPV).
