Two Kingfisher Airlines aircraft deregistered due to non-payment of dues

Victoria
By Victoria January 31, 2012 18:31

Two Kingfisher Airlines aircraft deregistered due to non-payment of dues


 

The Indian Directorate General of Civil Aviation (DGCA) has deregistered two Kingfisher Airlines turboprop aircraft for nonpayment of lease rentals. The German bank leasing the planes, KfW IPEX-Bank, is alleged to have sent a letter to the authority complaining that dues were not being paid on time, which prompted the DGCA to act. The last time this happened was in 2009 when the regulator deregistered two aircraft leased by Paramount Airways again for nonpayment of lease rentals. Kingfisher has two aircraft from GE Commercial Aviation Services (Gecas) deregistered in 2008 after payment defaults.

Other aircraft lessors have already pulled some aircraft out of Kingfisher but many are supporting the airline as far as they can confident that it will be able to emerge from its current financial difficulties. However others, largely banks, are reaching the end of their patience. Hence KfW’s action and DVB Bank’s statement to Reuters on January 14 that it would consider repossessing the aircraft if repayments continued to be missed. DVB has two A320s on lease to Kingfisher.

Victoria
By Victoria January 31, 2012 18:31
Write a comment

No Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Only <a href="http://www.aviationnews-online.com/wp-login.php?redirect_to=http%3A%2F%2Fwww.aviationnews-online.com%2Fairline%2Ftwo-kingfisher-airlines-aircraft-deregistered-due-to-non-payment-of-dues%2F"> registered </a> users can comment.