Mallya meets oil secy on KF dues

New Delhi: Liquor baron Vijay Mallya on Wednesday met Oil Secretary S Sundareshan to discuss defaults by his group firm Kingfisher Airlines on payment of jet fuel bills, but did not say when he will clear the outstanding of Rs 176 crore.
Mallya is believed to have told the secretary that he cannot settle dues of Kingfisher Airlines owed to Hindustan Petroleum Corp Ltd (HPCL) across the table, sources in the know said. The 45-minute meeting was inconclusive, they said. Mallya refused to take questions saying “all Kingfisher aircraft are flying” and that his firm was getting supplies of aviation turbine fuel (ATF). HPCL has since this month put Kingfisher Airlines on cash-and-carry after it failed to furnish a bank guarantee as cover against any future defaults.
15/07/10 Times of India

To Read the News in full at Source, Click the Headline

Categories: Kingfisher Jul 2010