Mumbai International Airport Ltd (MIAL) has sent a notice to budget carrier SpiceJet asking it to settle a part of the pending dues or stop operating from the airport.
The no-frills airline is estimated to owes about ₹20 crore to MIAL. This includes a bank guarantee of ₹15 crore (which SpiceJet has exhausted) and dues of ₹5 crore against parking and landing fees. MIAL wants the airline to pay at least ₹2 crore immediately.
MIAL, which is a joint venture between a GVK-led consortium and Airports Authority of India (AAI), has asked SpiceJet to clear the dues by February 1. If the airline is unable to pay, it may be asked to stop operating from the airport.
Usually, airports allow airlines to operate on ‘cash and carry’ mode once they exhaust the credit line, which essentially means that airlines are required to pay airport fee for every flight. In December, the AAI had asking all airports to allow SpiceJet to continue operations by paying 50 per cent of the daily charges for a set period.
Recently, the cash-strapped airline had its third change of ownership in a decade, with control coming back to original co-promoter Ajay Singh. Singh and JPMorgan Chase are to infuse ₹1,500 crore in three instalments of ₹500 crore each while exiting promoters (the Sun Group) retain a minority stake in the carrier.
Sources said that “In a communication that went out to SpiceJet today, MIAL told the airline that continuation of credit cannot be linked to fund infusion and new investors coming on board.”
A MIAL spokesperson did not comment on the development. Without giving details, a SpiceJet spokesperson said it has sorted out the issue with MIAL.
SpiceJet’s total liability stands at over ₹2,000 crore, including dues to the AAI. SpiceJet shares rose 2 per cent to close at ₹23 on the BSE today.