New Delhi, April 5: The Indian Oil Corporation (IOCL) on Friday stopped the supply of fuel to the debt-ridden Jet Airways due to non-payments of outstanding bills. After a brief period, the major oil firm resumed fuel services to Jet Airways. This comes after oil companies on Thursday stopped fuel supply to crisis-hit airways for over an hour at Delhi Airport. Jet Airways Crisis: 'No More Jets Will be Grounded', Says Ministry of Civil Aviation.

The public sector oil firm stopped fuel supplying to Jet Airways from 12 noon on Friday. "Due to non-payment of outstanding Bills of Payment IOCL stooped fuel supply to Jet Airways across the nation. Yesterday also an hour's services were stopped," IOCL Spokesperson said, reported news agency ANI.

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On Thursday, oil companies stopped jet fuel supply to the airline for over an hour, from 5 pm to 6 15 pm, at Indira Gandhi International Airport. After the airlines assured of payment, the services were resumed. Jet Airways Crisis: Airline Running Less Than 15 Aircraft, Says Civil Aviation Secretary.

According to Civil Aviation Secretary (CAS) P S Kharola, around 15 aeroplanes of Jet Airways are operational. The crisis is deepened to such extent that cash-starved carrier's top management internally estimate that the carrier would not be able to survive beyond April if funding of Rs 1500 crores does not come in a week.

With debts more than one million dollars, the airline struggles to pay lenders, suppliers and pilots for months. Jet Airways was on a brink of bankruptcy, but it was saved by state-run banks. Avolon, an aircraft leasing company, applied to de-registered its two Boeing 737-800 aircraft placed with Jet Airways. The world’s biggest aircraft lessors have terminated leases on the plane.

(The above story first appeared on LatestLY on Apr 05, 2019 04:00 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).