For a price, AAI lets lessors take Kingfisher Airlines planes
from Kingfisher.
But there are others claimants waiting in line. The service tax department has seized an ATR to recover its dues from Kingfisher. And according to rules, AAI’s claim on the assets of a defaulting company comes third — behind the service tax/income-tax departments and the oil companies.
“If these two parties decide to seize the aircraft, it automatically goes out of our possession, as their rights are above ours,” the AAI official said.
Kingfisher isn’t the only defaulter; Air India, the recipient of a public bailout, owes AAI Rs 1,500 crore. “We have written to the civil aviation ministry making it clear that we should get a proportionate share from the next infusion or any borrowings that Air India arranges. We expect Air India to clear some of our dues the next time it gets money,” said the official.
