Aerospace Diary

Neelam Mathews March 18, 2012 At the Hyderabad air show, even as the IATA DG Tony Tyler was unwilling to share what was on the agenda for discussion with airlines and government officials he was meeting in Delhi on March 16, he did say: “India is a concern on the viability…”  Aerospace Diary could not confirm what discussions were held regarding Jet Airways and BSP. Recently, it was reported that IATA was asked to deposit Jet Airways' collections from its settlement systems directly to the government to recover pending tax dues. “The Indian tax authority had served IATA with a garnishment for the amounts owed to the tax authorities by Jet Airways," IATA spokesman Albert Tjoeng said in an email to Reuters.  Speaking exclusively to Aerospace Diary, Tyler said: “We will obey the law and if legally (required), are obliged in future to do according to the law.” Kingfisher was the topic of discussion as Tyler told a group of media persons when questioned on the pullout...

Neelam Mathews March 8, 2012     Ailing Kingfisher Airlines is working hard to get some cash to pay for the security deposit for IATAs Billing and Settlement Plan (BSP) for which the deadline is March 10, Aerospace Diary learns. If it is unable to meet the deadline, the carrier will be in a real hot soup as it can then no longer sell through agents (including online travel agents) that sell 70% of its inventory.   We also learn cash for fuel bought from HPCL will last only till tomorrow.   Kingfisher has already defaulted and been suspended for 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,” said an IATA spokesman.   ICH is for interlining payments clearances. This means now international carriers taking KFAs passengers to onward destinations will no longer offer ...

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 off...