Air India faces hard time, Rs 4,500 crore fuel dues

Published on : Friday, August 23, 2019

Over non-payment of dues three major oil retailer have stopped aviation fuel supply to Air India and the pending dues close to Rs 4,500 crore.

 

 

According to senior officials the airline has not cleared dues for 700 months. On Thursday afternoon at six airports-Kochi, Pune, Patna, Ranchi, Vizag and Mohali over non-payment of dues 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).

 

 

A senior official at one of the three state-owned oil firms said that 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.

 

So far the total unpaid due of Air India to these fuel retailers stands at Rs 4,500 crore and Air India offered to pay Rs 60 crore.

 

A week ago, the three oil retailers  wrote a letter to Air India seeking quicker clearance of the pending dues and will stop the supply if it failed to comply.

 

 

 

A clear roadmap to clear dues is still not provided by Air India and another spokesperson mentioned that it was unfair to the oil companies as Air India was aided by the government but no relief was provided to the oil companies.

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