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Civil aviation company SpiceJet on Tuesday said it has entered into an agreement with the Airports Authority of India. Along with this, he has also paid the entire principal amount due to AAI.
The airline has issued a statement on its behalf saying that with this, SpiceJet will no longer work in cash and carry mode with AAI. Now he will start getting the facility of advance payment mechanism as before.
Let us tell you that in the year 2020, the central government-administered AAI had asked SpiceJet to operate as cash and carry as the airline was unable to pay past dues of AAI.
In cash and carry mode, the airline company had to pay daily for navigation, landing, parking and other operational facilities at AAI airports.
SpiceJet has also said that under this agreement, AAI has also released the bank guarantee of Rs 50 crore to the airline company. This will ease the operations of the company.
SpiceJet has been making losses for the last four years. The airline has made losses of Rs 316 crore, 934 crore and Rs 998 crore in the years 18-19, 19-20 and 20-21 respectively.