Kingfisher owes oil PSUs Rs 950 cr

Vijay Mallya-owned Kingfisher Airlines owes state-run oil companies over Rs 950 crore (Rs 9.50 billion) in unpaid fuel bills while financial crisis-hit NACIL has cleared almost two-thirds of its outstanding.
Kingfisher Airlines owned Rs 1,030.08 crore (Rs 10.30 billion) in unpaid bills for buying jet fuel from Indian Oil , Bharat Petroleum and Hindustan Petroleum on December 31, 2008. It stood at Rs 950.46 crore (Rs 9.504 billion) as on May 31, 2009, Petroleum Minister Murli Deora said in a written reply in Lok Sabha.
On the other hand, National Aviation Company India Ltd (NACIL),which operates the merged state carriers Air India and Indian Airlines, has reduced its outstanding from Rs 1,311.91 crore (Rs 13.119 billion) to Rs 472.93 crore (Rs 4.729 billion).
Jet Airways has reduced outstanding from Rs 1,266.21 crore (Rs 12.662 billion) to Rs 760.07 crore (Rs 7.60 billion), Deora said.
16/07/09 PTI/Sify

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Categories: Indian Aviation- In General Jul 2009, Kingfisher Jul 2009