Kingfisher's cheques to AAI worth Rs 121 crore bounce

Five cheques submitted by Kingfisher Airlines to Airport Authority of India (AAI), amounting to Rs 121 crores bounced last year, an RTI query has revealed.

[caption id="attachment_260191" align="alignleft" width="380" caption="The airline had given five cheques to AAI in 2011 which bounced. PTI"][/caption]

The bounced cheques include a Rs 15 crore cheque given to AAI in October 2011 and four cheques worth Rs 106 crore that were submitted on 25 August, 2011.

Three of these cheques were drawn on Axis Bank. Two were of ICICI Bank, Mumbai.

The information has been obtained by Pune based RTI activist Sanjay Shirodkar.

Interestingly, AAI deposited three of the five cheques (no. 592939 of Rs 27.9 crore, no. 563639 of Rs 25 crore, no. 56360 of Rs 25 crore) -five months after receiving them from KFA.

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The airline owes the government authority approximately Rs 265 crore and is operating on cash and carry basis with companies that run the airports in Mumbai and Delhi.

Cash strapped Kingfisher Airlines has held several rounds of talks with the Ministry of Civil Aviation over the last few weeks about its functioning with a limited number of planes. The government has so far ruled out any bail-out plan for the private airline.

Last week, the airline stopped operating on international routes. The airline staff has been regularly holding demonstrations in Delhi and other cities for non- payment of dues. The airline had also reportedly asked some of its staff to stay at home.