"Kingfisher Airlines defaulted on rental payments for four A320s on lease from GECAS, which complained to India's Directorate General for Civil Aviation and is seeking to repossess the aircraft.
A Civil Aviation Ministry spokesperson confirmed the complaint to Reuters. Kingfisher quickly responded and secured relief from the Karnataka state court preventing the repossession. "Since the matter is sub-judice, the DGCA cannot take action on de-registering the aircraft," the ministry spokesperson told the news service, while a Kingfisher spokesperson said only that the court "has heard our application and thought it fit to pass ad-interim orders for our protection."
A Kingfisher official requesting anonymity told The Economic Times, "There is no default. . .Had there been a default, the court would not have admitted our case. The fact that the court granted an immediate relief to us. . .demonstrates that the airline has an obvious and prima-facie case."
A GECAS spokesperson told ATWOnline, "Our business and discussions with our customers are confidential," and declined to comment further.
Kingfisher, along with Jet Airways and Air India, recently received fuel bill relief from the government allowing the trio more time to pay and extending their credit for further purchases. Kingfisher said last week that it already has returned two aircraft to lessors and is "in discussion" for the return of eight more. It did not identify the aircraft or the lessor.
The carrier reported a "loss from ordinary activities after tax" in the fiscal second quarter ended Sept. 30 of INR4.83 billion ($100.5 million), a 90.9% increase from the INR2.53 billion deficit suffered in the year-ago period. Its loss from operations before interest and one-time items deepened to INR6.2 billion from INR2.57 billion even as revenue nearly tripled to INR13.23 billion. Its half-year loss from ordinary activities after tax was INR6.41 billion, widened from INR4.26 billion in the year-ago semester."
A Civil Aviation Ministry spokesperson confirmed the complaint to Reuters. Kingfisher quickly responded and secured relief from the Karnataka state court preventing the repossession. "Since the matter is sub-judice, the DGCA cannot take action on de-registering the aircraft," the ministry spokesperson told the news service, while a Kingfisher spokesperson said only that the court "has heard our application and thought it fit to pass ad-interim orders for our protection."
A Kingfisher official requesting anonymity told The Economic Times, "There is no default. . .Had there been a default, the court would not have admitted our case. The fact that the court granted an immediate relief to us. . .demonstrates that the airline has an obvious and prima-facie case."
A GECAS spokesperson told ATWOnline, "Our business and discussions with our customers are confidential," and declined to comment further.
Kingfisher, along with Jet Airways and Air India, recently received fuel bill relief from the government allowing the trio more time to pay and extending their credit for further purchases. Kingfisher said last week that it already has returned two aircraft to lessors and is "in discussion" for the return of eight more. It did not identify the aircraft or the lessor.
The carrier reported a "loss from ordinary activities after tax" in the fiscal second quarter ended Sept. 30 of INR4.83 billion ($100.5 million), a 90.9% increase from the INR2.53 billion deficit suffered in the year-ago period. Its loss from operations before interest and one-time items deepened to INR6.2 billion from INR2.57 billion even as revenue nearly tripled to INR13.23 billion. Its half-year loss from ordinary activities after tax was INR6.41 billion, widened from INR4.26 billion in the year-ago semester."
Flyintelligence, Kingfisher, GECAS
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