runs into more money trouble
Air has been compelled to ground its
A320 aircraft plying to Indian
destinations due to non payment of dues.
Bulgarian company that leased out the
A320 aircraft to Mihin on a wet lease
has instructed its pilots not to fly the
aircraft as Mihin had not settled its
dues under the lease.
has two long haul aircraft, an A320
leased from a Bulgarian company and an
A321 leased from a Turkish company. The
controversial budget airline pays Rs.
90,802,000.00 as leasing charges on a
wet lease that includes cabin crew and
at 31.03.2007 Mihin's operational costs
stood at Rs. 195,410,886.41 and records
reveal the budget airline is making a
loss of about Rs. 8-9 million a day.
a budget airline Mihin, incurs a huge
sun of Rs. 25,249,614.13 for advertising
and promotions and Rs. 16,129,577.06 for
staff salaries and allowances.
currently flies to seven destinations.
They are Dubai, Male, Bangkok,
Tiruchirapalli, Trivandram, Buddha Gaya
and Singapore. The debt ridden Mihin
currently owes a sum of Rs. 300 million
to the Ceylon Petroleum Corporation
(CPC) for fuel purchases and over USD
one million to SriLankan Airlines for
ground handling and other services.
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