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SpiceJet clears all principal dues of AAI

New Delhi: SpiceJet has entered into an settlement with the Airports Authority of India (AAI) and has cleared all principal dues of the airport operator. The airline firm gave this data on Tuesday. With this, SpiceJet will now not should function underneath the ‘money and carry mannequin’ at airports operated by AAI, SpiceJet mentioned in an announcement. Slightly, it is going to now observe the advance fee system for working day by day flights.

Underneath the money and carry mannequin, an airline has to pay varied prices to AAI every day. SpiceJet mentioned that now AAI may also challenge its financial institution assure of Rs 50 crore. SpiceJet has been making losses for the final 4 consecutive years. The airline had posted a internet lack of Rs 316 crore, Rs 934 crore and Rs 998 crore within the monetary years of 2018-19, 2019-20 and 2020-21 respectively. The airline had a internet lack of Rs 1,248 crore in April-December, 2021. SpiceJet is but to announce its quarterly outcomes for January-March 2022.

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