New Delhi: National passenger carrier Air India has asked the Centre to release equity payment due to the airline to pay up for past fuel bills that are owed by the company.
The development comes after oil marketing firms have again threatened to suspend fuel supplies to the airline.
According to a senior Air India official, the government has been approached for infusing equity that it owes to the airline, so that the company can pay up fuel retailers.
The official said that at present, Air India is able to meet its daily fuel requirement by paying Rs 18 crore but is unable to pay up for the backlog of dues.
"We are making day-to-day payments of Rs 18 crore. However, dues can not be paid as the airline can not finance such huge burden on its own," the official told IANS.
"We have again requested the government for equity infusion." Notably, the centre has not infused any funds into the airline during 2019-20.
15/10/19 IANS/Economic Times
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The development comes after oil marketing firms have again threatened to suspend fuel supplies to the airline.
According to a senior Air India official, the government has been approached for infusing equity that it owes to the airline, so that the company can pay up fuel retailers.
The official said that at present, Air India is able to meet its daily fuel requirement by paying Rs 18 crore but is unable to pay up for the backlog of dues.
"We are making day-to-day payments of Rs 18 crore. However, dues can not be paid as the airline can not finance such huge burden on its own," the official told IANS.
"We have again requested the government for equity infusion." Notably, the centre has not infused any funds into the airline during 2019-20.
15/10/19 IANS/Economic Times
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