Oil companies to Air India: pay monthly or will cut fuel supply
All three major oil companies of the country has strictly warned the Carrier to pay the bills of fuel on monthly basis, or else the fuel supply will be cut-off.
The three major PSU's of oil in india has served the ultimatum to the national carrier Air india to clear all monthly dues by October 18 or else the supply would be cut-off across all major airports to the airplanes of the carrier.
In a letter to Air india the three major companies, Indian oil corporation ltd. (IOC), Bharat Petroleum corporation ltd. (BPCL), and Hindustan petroleum corporation ltd.(HPCL) have reiterated that, there is no significant reduction in the amount in absence of monthly payments. The oil majors has earlier stated that an outstanding amount of 5000 crores is pending towards unpaid bills of fuel to Air India.
On August 22 this year, all oil companies had stopped fuel supply to national carrier at airports of Pune, Kochi, Mohali, Patna, Ranchi, and Vizag. However, the supply was resumed after intervention from Aviation industry on September 07. The National carrier is reportedly running on very heavy losses.