Jet, Kingfisher owe over Rs 1,050 cr to Oil Marketing Companies

New Delhi: Private carriers Jet Airways and Kingfisher owed over Rs 1,050 crore to the public sector oil marketing companies (OMCs) like Indian Oil, HPCL and BPCL towards the payment of jet-fuel bills as on November 15, Parliament was informed on Thursday.
"As on November 15, major private airlines Jet Airways and Kingfisher Airlines owed Rs 642.37 crore and Rs 417.10 crore, respectively, to the oil marketing companies (OMC)," Civil Aviation Minister Praful Patel said in a written reply to the Lok Sabha.
He added that the dues included an interest of Rs 60.63 crore for Jet Airways and Rs 80.65 crore for the Kingfisher.
Asked about the action taken by the government for timely repayments, Patel said: "OMCs take action for recovery of dues in line with the mutually agreed commercial terms between them and the Airlines."
He further said that in case of defaults by the airline companies, OMCs put them on 'Cash and Carry' scheme and interest is recovered on all overdue payments.
02/12/10 PTI/Economic Times

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Categories: Jet Airways Dec 2010, Kingfisher Dec 2010