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Mon, Sep 23, 2019 | Last Updated 3:23 pm IST

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Air India defaulted on payments to oil retailers to tune of Rs 4,500 Crore

Air India defaulted on payments to oil retailers to tune of Rs 4,500 Crore
Air India defaulted on payments to oil retailers to tune of Rs 4,500 Crore
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As per report national carrier Air india is going through a hard time as several oil companies have snapped fuel supplies to the airline, citing pending dues close to Rs 4,500 crore. Meanwhile senior officials told news agency that the airline has not cleared fuel dues for 200 days or close to 7 months.

Air India defaulted on payments to oil retailers to tune of Rs 4,500 Crore

Furthermore Indian Oil Corporation (IoC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corp (HPCL) took the decision to stop jet fuel supply or airline turbine fuel (ATF) on Thursday afternoon at six airports-Kochi, Pune, Patna, Ranchi, Vizag and Mohali over non-payment of dues. A senior official at one of the three state-owned oil firms told "Air india has a 90-day credit period, which means they have to make payment for fuel they buy today by November 21. But Air india had not been making payments and the credit period was now over 200 days”.



Moreover the total unpaid due of Air india to the three fuel retailers stands at Rs 4,500 crore. The official said "They (Air india) offered to pay Rs 60 crore which is a drop in the ocean of what they owe," another official at one of the fuel retailers added. Air india, however, failed to provide a clear roadmap to clear dues, forcing us to stop supplies”. Apparently another official who spoke to news agency said it is unfair to the oil companies as Air india is aided by the government but no such relief is given to oil companies.


Air India defaulted on payments to oil retailers to tune of Rs 4,500 Crore
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