Kingfisher getting fuel supply on cash & carry basis: IOC

Mumbai: Contradicting Kingfisher Airlines' Chief Vijay Mallya's recent statement that his airline was not getting ATF supply on 'cash-and-carry-basis,' state-run oil firm, Indian Oil Corporation (IOC), today said that the company was currently getting its supply on cash-and-carry basis.
"Kingfisher is (presently) on a cash-and-carry basis," IOC Director (Marketing) G C Daga told reporters here.
The private airline owes Rs 175 crore to IOC, Daga said, adding, however, that "it is not all overdue".
IOC has not stopped supply of jet fuel to the private airline, he added.Mallya had earlier this week stated that Kingfisher Airlines was not getting its fuel supply on cash and carry basis.
"After the government intervention (in October 2008), all airlines were allowed to pay their dues in six equal installments. However, Kingfisher Airlines has not been able to meet its commitment (on payment)," Daga said.
Also present there IOC Chairman Sarthak Behuria said, much like the oil sector, the aviation industry was also going through bad times and that they (oil PSUs) were trying to help the oil companies.
12/02/09 Press Trust of India/Business Standard

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Categories: kingfisher Feb 2009