New Delhi: The financial troubles of big boys of Indian aviation are spreading fast. After almost bankrupt Air India and Kingfisher, the country's largest airline -Jet Airways - has sought government help in seeking additional working capital loans from banks and enhancing credit period with oil PSUs.
Jet Airways had posted a loss of Rs 101.2 crore in Q3 of this fiscal. In April-December , 2011 its loss touched Rs 937.98 crore, against a net profit of Rs 134.15 crore in the same period last fiscal.
"We have a two-month credit period with oil companies , which we have now sought to be enhanced to three months. We are also seeking assistance in securing working capital loan of Rs 1,000 crore," said a senior official at Jet. AI was also given a three-month credit period so that it could partially meet working capital requirement.
15/02/12 Saurabh Sinha/Times of India
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