Jet Airways beats Kingfisher Airlines in fuel payment delays

New Delhi: Contrary to popular perception, it is not Vijay Mallya's Kingfisher Airlines which owes the most money to public sector oil companies. According to the information given by junior petroleum minister Jitin Prasada, Jet Airways topped the list of debtors with total obligations of Rs960 crore at the end of June. The Naresh Goyal firm was followed closely by Mallya's Kingfisher with a net outstanding obligations of Rs814 crore.
The numbers also showed that the so-called 'low cost' airlines, such as SpiceJet and IndiGo, were much better at making timely payments for their fuel that the two 'full service' airlines that charge higher fees from passengers.
SpiceJet owed just Rs75 crore, followed by GoAir and South India-focused Paramount Airways with Rs19 crore each and IndiGo with just Rs 60 lakhs, according to the minister.
17/08/10 Sreejiraj Eluvangal/Daily News & Analysis

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Categories: Indian Aviation- In General Aug 2010, Jet Airways Aug 2010, Kingfisher Aug 2010