Indiaherald Group of Publishers P LIMITED

X
close save
crop image
x
Thu, Sep 19, 2019 | Last Updated 10:04 am IST

Menu &Sections

Search

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
http://apherald-nkywabj.stackpathdns.com/images/appleiconAPH72x72.png apherald.com

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
5/ 5 - (1 votes)
Add To Favourite
More from author
5G version of chip available in India with upcoming line up of Huawei smart phones
Global Village Tech Park in Bengaluru sold for Rs.2700 Crore by Coffee Day
Maruti Suzuki S-Presso will be available in Std, LXi, VXi and VXi+ variants
Petrol prices increased in Major cities after attack on Saudi refinery
Apply for 8500 Assistants Posts in LIC
MK Stalin consoled Subhasri"s parents
Trump joins Modi at Houston, a message to the world
Do you know which is India second IT Firm?
E-Cigarettes will be banned and no production: FM
PoK belongs to India, we will take possession: EAM Jaishankar
CBN demands CBI investigation for death of Kodela Siva Prasad
Rajinikanth says Amit Shah's common language can't be imposed in India
Hindu Dental College student found dead in hostel in Pakistan
Collector ordered for heavy penalties for throwing garbage on road
Kohli and Chahar registers win at Mohali
How Brain eating Amoeba entered 10 year Girl while swimming in Texas River?
Chennai Man died after electric pole fell on him while feeding street dogs
Chennai to receive rainfall for next 48 hours
Heavy rains lashed Andhra Pradesh's Rayalaseema region disrupted normal life
New Jersey for Indian Team for Second T20 International Match
ISRO tweeted a thank for all the support it received from Vikram Lander
Astra an indigenous Visual Range Missile successfully test-fired by IAF
Onion prices goes up in Delhi
Mamata Banerjee scheduled to meet PM Modi in Delhi today
About the author

Nanotechnology Degree Holder. Movie Geek. Crazy about comics and cartoons. Hardcore Cricket Lover. Photoshop Professional