Four private major airlines dues double to the AAI; SpiceJet, Indigo trade in red

These four airlines are IndiGo, SpiceJet, GoAir and AirAsia India. Notably, only Vistara has seen its dues decreasing to the AAI.

Sep 21, 2020 03:09 IST India Infoline News Service

Hit by COVID-pandemic and nationwide lockdown, it is being known that, dues of four major private airliners have doubled to the statutory body working under the Civil Aviation Ministry, the Airports Authority of India (AAI). These four airlines are IndiGo, SpiceJet, GoAir and AirAsia India. Notably, only Vistara has seen its dues decreasing to the AAI. On Sensex, both Indigo and SpiceJet stock were trading on a negative note.

At around 2.49 pm, SpiceJet stock was trading at Rs50.05 per piece, down 2.82% on Sensex. Meantime, Interglobe Aviation (Indigo) stock was performing at Rs1309.45 per piece below 0.42% on Sensex. Indigo has so far plunged by 1% on Sensex.

Senior officials told in a PTI report that, dues of four major domestic airlines — IndiGo, SpiceJet, GoAir and AirAsia India –to have more than doubled between February and July amid the coronavirus pandemic.  However, the domestic airline that owes the highest amount of dues to the AAI is Air India.

Officials told PTI that, India has six major domestic carriers, IndiGo, SpiceJet, GoAir, AirAsia India, Air India and Vistara, which owed to the AAI a total of Rs2562.04cr as on August 1 and this was around 10%
more than on February 1.

According to the officials' statement in the news agency, Air India's dues rose by 2.75% to Rs2,258.27cr in this period. While Indigo which is the largest airline in terms of market share witnessed a rise of 130.6% in dues to Rs95.99cr as on August 01, compared to Rs41.62cr on February 01, 2020.

Moreover, SpiceJet dues reportedly were at Rs132.4cr by August 01, more than doubling from Rs65.35cr on February 01, 2020. As for GoAir's debt surged to Rs52.18cr on August 01 from Rs16.91cr on February 01.

AirAsia India, which is a joint private carrier of Tata Sons and AirAsia Investment Limited recorded dues of Rs18.89cr on August 01 from mere Rs0.96cr on February 01.

Notably, Vistara emerges the only one of the six major domestic carriers which saw its dues reportedly declining to Rs4.31cr on August 01 compared to Rs5.72cr in February-July period. Tata Group is the major shareholder of both AirAsia India and Vistara.

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