Indian Oil stops fuel supply to Jet Airways


Indian Oil stops fuel supply to Jet Airways

Indian Oil Corporation (IOC) on Friday (April 05) stopped fuel supply to the struggling carrier Jet Airways for non-payment. The public sector oil marketing firm stopped supplying fuel to the cash-starved carrier from 12 noon Friday, sources told PTI.

Response to a query sent to Jet Airways on this issue was awaited. Jet Airways, in which SBI-led consortium of lenders is set to take management control under a debt-recast plan, has drastically curtailed operations with a fleet of 26 planes.

On March 25, Jet Airways board had approved a resolution plan formulated by SBI-led domestic lenders, under which had agreed to infuse an emergency funding of Rs 1,500 crore into the airline Read More

Leave a Reply

Your email address will not be published.