Jet, Kingfisher owe oil PSUs over Rs. 1,774 crore

New Delhi: Private airlines Jet Airways and Kingfisher owe State-owned oil firms over Rs. 1,774 crore in unpaid jet fuel bills, Minister of State for Petroleum and Natural Gas Jitin Prasada said Thursday.
In a written reply to a question, he said Jet Airways had the highest outstanding of Rs. 960.15 crore as on June 30 towards State-owned fuel retailers while Kingfisher had Rs. 814.49 crore in unpaid bills.
Jet owes Rs. 830.40 crore to Indian Oil, Rs. 129.74 crore to Bharat Petroleum Corporation Limited (BPCL) and Rs. 0.01 crore to Hindustan Petroleum Corporation Limited (HPCL).
Kingfisher owes HPCL Rs. 536.04 crore, BPCL Rs. 248.55 crore and Indian Oil Corporation (IOC) Rs. 29.9 crore.
In all, the six private airlines in the country owe Rs. 1,887.82 crore to the oil companies. Outstanding of Spicejet (Rs. 74.5 crore), Go Air (Rs. 18.8 crore), Indigo (Rs. 0.6 crore) and Paramount Airways (Rs. 19.28 crore) is marginal compared to what the giants Jet and Kingfisher owe to the oil firms.
12/08/10 PTI/The Hindu

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Categories: Jet Airways Aug 2010, Kingfisher Aug 2010