OMCs give Air India one week to repay part of dues - News Summed Up

OMCs give Air India one week to repay part of dues


Previously, the OMCs had on 22 August stopped fuel supplies to Air India at six airports across the country—Kochi, Mohali, Pune, Patna, Ranchi and Visakhapatnam—over payment defaults. According to the three fuel retailers, loss-making Air India has ₹5,000 crore in unpaid fuel bills with payments being delayed by almost eight months. The OMCs resumed fuel supplies to Air India from 7 September after the government stepped in to mediate talks between the debt-laden airline and the oil companies. As a part of the deal, the state-run oil companies were supposed to receive at least a total of ₹100 crore from Air India in September. Air India has been making daily payments for its fuel purchases but has not been able to make any lump sum payment so far.


Source: Mint October 10, 2019 15:45 UTC



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