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IATA suspends Kingfisher from its clearing house news
07 March 2012

The International Air Transport Association (IATA) has suspended Kingfisher Airlines from its clearing house effective today due to non-payment of fees, a move that comes as yet another blow the stricken carrier as it sought funds to stay aloft.

ICH, which is the industry group's clearing house, settles accounts between the world's airlines, airline-associated companies and travel agencies.

"Kingfisher's participation in the ICH will be reinstated after the airline fulfills the ICH requirements," IATA spokesman Albert Tjoeng said in an email. Kingfisher would, however, partner with other airlines through direct settlements with them, he said.

Kingfisher would issue a statement later, the carrier's spokesman said.

Around 240 airlines, representing about 84 per cent of global scheduled airline traffic, belong to the IATA, which among other things helps airlines partner with each other.

In another blow to the company, CNBC-TV18 reported that Indian tax authorities had issued "show-cause" notices to the airline's top management, asking them to explain why the airline had not paid about Rs300 crore in taxes.





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IATA suspends Kingfisher from its clearing house