Wednesday, March 7, 2012

EXCLUSIVE IATA suspends Kingfisher membership

Neelam Mathews
March 7, 2012

It will not be a very colorful holi for Kingfisher this year as Aerospace Diary learns Kingfisher Airlines has been suspended from the International Air Transport Association's Clearing House (ICH) payment system. 

This has been confirmed to us by IATA spokesman, Albert Tjoeng who said: “IATA has suspended Kingfisher Airlines' participation in the IATA Clearing House (ICH). This is because the airline did not settle their ICH account within the stipulated deadline.Kingfisher's participation in the ICH will be reinstated after the airline fulfills the ICH requirements.

Around a dozen more accounts too, have been frozen.

Last month too, the carrier was suspended as it did not settle their ICH account within the due time.
We learn that IATA had asked the carrier to pay an additional deposit for payments in future. We could not confirm if the ailing carrier was able to do so. “IATA does this to protect its member airlines,” said an official.

“Our priority is to get our accounts unfrozen in a day or two. We are in dialogue with the banks…we feel they are open to accepting our offer,” Sanjay Aggarwal, CEO, Kingfisher told Aerospace Diary yesterday. “We are prepared to win our glory back and get our planes back in the air,” he said bravely. 

In the interim flight schedule submitted to DGCA, the carrier said it will fly 28 aircraft , 200 flights a day to 47 destinations. For its summer schedule submitted to the DGCA, it will have 39 aircraft in the air. However, this might be subject to getting cash to put its engines and spares back in circulation.

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