Economy, Domestic Economy

BA Owes $13m to Iran Airports Company

BA Owes IAC $13mBA Owes IAC $13m

British Airways owes more than $13 million to Iran Airports Company, according to Iran’s Ministry of Roads and Urban Development.

Mohammad Reza Emami, an official with the ministry, added that the British carrier is now IAC’s biggest debtor among all international airlines flying to Iran, explaining that the sizable debt is not because the BA has been running many flights to and from Iran, but because the debt remained pending over two years.

“The airports company usually specifies a timeframe for foreign airlines to settle their debt; but if they don’t, changes will be made to their flight schedule,” he was quoted as saying by Mehr News Agency.

“However, we have held negotiations with BA and the company has expressed readiness to pay its debt,” he added. According to the official, the British airline has been given a 30-day deadline to repay its debt.

“Otherwise, all its flights will be suspended,” he concluded. After Britain, the UAE is the second biggest debtor to IAC. The Emirati debt is due to its large number of planes using the Iranian airspace.

Foreign airlines are required to pay overflight fees to IAC, as the company schedules their incoming and outgoing flights.

Back in September, British Airways resumed direct flights to Iran after a nearly four-year suspension, following the lifting of sanctions on the country.

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