Indian carriers owe AAI Rs 2,500 crore, Air India accounts for nearly 90% dues
Air India is estimated to have incurred losses of Rs 9,500-10,000 crore in 2020-21 -- its highest since the merger with Indian Airlines, a report said
The Airports Authority of India (AAI) has estimated that dues amounting to Rs 2,500 crore is yet to be deposited.
National carrier Air India’s dues are Rs 2,218.81 crore, Union Civil Aviation Minister Hardeep Singh Puri had informed the Parliament.
Other airlines include that have outstanding dues are SpiceJet (Rs 158.09 crore), IndiGo (Rs 11.11 crore), Alliance Air (Rs 106.28 crore), GoAir (Rs 50.26 crore), Air India Express (Rs 2.73 crore), Vistara (Rs 67 lakh), AirAsia India (Rs 27 lakh), Heritage Aviation Pvt Ltd (Rs 4 lakh), Pawan Hans Ltd (Rs 1.94 crore), Turbo Megha Airways (TruJet) (Rs 11 lakh) and Ghodawat Enterprises (Star Air) (Rs 33 lakh).
“AAI follows up with the airlines regularly for recovery of dues as per their credit policy," the minister said.
“Charging penal interest, encashment of security deposits along with resorting to legal courses are other measures available with AAI," he added.
The authority is planning to raise Rs 2,100 crore from banks for its capital expenditure requirements in 2021-22.
“Airlines typically clear their dues in a few months’ time. But due to the ongoing pandemic, airlines’ financials have been weakened, which has resulted in dues piling up," an AAI official told Live Mint.
The total outstanding dues of major domestic airlines to the AAI as of January 1 stood at Rs 137.16 crore. AAI charges airlines for using air navigation services, landing and parking among other facilities. The highest pending dues were of SpiceJet and GoAir at Rs 33.74 crore and Rs 33.13 crore respectively.
Air India is estimated to have incurred losses of Rs 9,500-10,000 crore in the financial year 2020-21 -- its highest since the merger with Indian Airlines in 2007, beating the record Rs 8,500 crore loss in 2018-19, The Economic Times reported. This record loss is likely to affect the valuation of the privatisation-bound national carrier.
Air India Chairman and Managing Director Rajiv Bansal, however, said at a press conference in New Delhi on December 29, 2020, "Our financials have improved every quarter. Q2 was better than Q1. Q3 has been better. We are currently in Q3. This is a good traffic season, a lot of international passenger movement is there, both into India as well as ex-India." He added that last year, Air India underwent a cash loss of about Rs 3,600 crore, which was significantly less compared to the previous year of 2018-19.
(Cover image courtesy: Wikimedia Commons/Yercaud-elango)