Kingfisher owes Bharat Petroleum Rs 245 crore

Mumbai: Kingfisher Airlines owes Rs 245 crore to Bharat Petroleum Corporation (BPCL) on account of buying Aviation Turbine fuel (ATF), BPCL's Chairman and Managing Director S Radhakrishnan, said.
According to a recent Court order, the entire amount has to be paid by this November and Vijay-Mallya owned airline is paying it in instalments, he told reporters on the sidelines of a press conference here.
Though BPCL stopped credit and started cash-and-carry mode for Kingfisher, the airline is now not buying from BPCL, he said.
The state-owned NACIL (merged entity of Air India and Indian Airlines) owes Rs 250 crore plus Rs 50 crore on interest, he said, adding that the total credit of Jet Airways is close to Rs 50 crore.
26/09/10 PTI/Economic Times

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Categories: Kingfisher Sep 2010, NACIL Sep 2010