Home / Companies / News / AAI cracks whip on SpiceJet, puts airline on 'cash and carry' mode

AAI cracks whip on SpiceJet, puts airline on 'cash and carry' mode

While SpiceJet was to be placed on a 'cash and carry' mode from Thursday midnight, the proposal was deferred upon a request from the airline.

Premium

SpiceJet, which posted a loss of Rs 807 crore in fourth quarter of last fiscal, had asked AAI for time to work out the modalities for implementing the 'cash and carry' mode

Aneesh Phadnis Mumbai

1 min read Last Updated : Jul 30 2020 | 10:54 PM IST

The Airport Authority of India (AAI) has decided to put SpiceJet on a 'cash and carry' mode as the airline's pending dues have crossed Rs 200 crore.

While SpiceJet was to be placed on a 'cash and carry' mode from Thursday midnight, the proposal was deferred upon a request from the airline.

SpiceJet, which posted a loss of Rs 807 crore in fourth quarter of last fiscal, had asked AAI for time to work out the modalities for implementing the 'cash and carry' mode and requested the authority to defer the implementation.

The airline's unpaid dues include interest and exceed

Topics : Airports Authority of India AAI SpiceJet Domestic airlines Aviation industry

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in