New Delhi: National carrier Air India owes over Rs 4,064 crore in outstanding jet fuel ( ATF) bill to state-owned oil companies, the largest overdue payment by any domestic carrier.
Of the total outstanding of Rs 4,064.77 crore, a sum of Rs 2,571.73 crore is overdue payment, the Rajya Sabha was informed today. Unlike private airlines, Air India has not provided any security to cover for its outstanding.
Air India, the unprofitable state-owned carrier, owes Rs 2,393.79 crore to Indian Oil Corp (IOC), of which Rs 1,698.79 crore is overdue payment, Minister of State for Petroleum and Natural Gas Panabaaka Lakshmi said in a written reply.
It owes another Rs 636.04 crore to Bharat Petroleum Corp Ltd (BPCL) and Rs 1,034.94 crore to Hindustan Petroleum Corp Ltd (HPCL).
Jet Airways owes Rs 958.46 crore to IOC but of this only Rs 35.46 crore is overdue payment. The rest is under 90-day credit period that oil companies extend to Jet and other airlines including Air India.
11/12/12 PTI/Economic Times
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Of the total outstanding of Rs 4,064.77 crore, a sum of Rs 2,571.73 crore is overdue payment, the Rajya Sabha was informed today. Unlike private airlines, Air India has not provided any security to cover for its outstanding.
Air India, the unprofitable state-owned carrier, owes Rs 2,393.79 crore to Indian Oil Corp (IOC), of which Rs 1,698.79 crore is overdue payment, Minister of State for Petroleum and Natural Gas Panabaaka Lakshmi said in a written reply.
It owes another Rs 636.04 crore to Bharat Petroleum Corp Ltd (BPCL) and Rs 1,034.94 crore to Hindustan Petroleum Corp Ltd (HPCL).
Jet Airways owes Rs 958.46 crore to IOC but of this only Rs 35.46 crore is overdue payment. The rest is under 90-day credit period that oil companies extend to Jet and other airlines including Air India.
11/12/12 PTI/Economic Times
