AI's Rs 2,000-cr dues worry OMCs

Mumbai: National carrier Air India owes about Rs 2,000 crore in jet fuel dues to state-run oil marketing companies without even bank guarantees.
While Air India owes about Rs 300 crore each to Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL), the airline has to clear Rs 1,250 crore payment to Indian Oil Corp (IOC), according to officials from these companies.
“Air India is unable to pay even after a 90-day credit period. They owe us about Rs 300 crore without interest. There is also no bank guarantee from Air India to any of the oil marketing companies. We do not know when will the company honour its dues,” said a BPCL official on condition of anonymity.
31/07/12 Kalpana Pathak/Business Standard

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Categories: Air India Jul 2012