 Mumbai : The Airports Authority of India (AAI) has rejected Vijay Mallaya-owned Kingfisher Airlines' request to lower interest rate on dues amounting to Rs 140 crore, a senior official on Feb 22 said.
"Kingfisher Airlines owes us around Rs 140 crore. The airline had requested us to lower the interest rate which has been turned down," AAI Chairman V P Agarwal told reporters here. The Vijay Mallya-owned private air carrier had asked the Civil Aviation Ministry to lower the interest rate, charged by the Authority on the principal amount.
The dues are for a period of up to January, Agarwal said. The Authority charges a 12 per cent interest on the principal amount in case of a default on payment. The AAI official, however, said that the airline is now regular in its payment of landing and parking fees.
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