Jet Airways Crisis: Oil Companies Stop Fuel Supply to Cash-Crunched Carrier For Over an Hour at Delhi Airport
The oil companies on Thursday evening had stopped fuel supply to debt-hit Jet Airways for over an hour at Indira Gandhi International Airport, also known as Delhi airport, due to non-payment of dues.
New Delhi, April 4: The oil companies on Thursday evening had stopped fuel supply to debt-hit Jet Airways for over an hour at Indira Gandhi International Airport, also known as Delhi airport, due to non-payment of dues. According to news agency ANI sources, fuel supply was stopped at 5 pm and resumed at about 6:15 pm after the airline assured of payment. Jet Airways Crisis: 'No More Jets Will be Grounded', Says Ministry of Civil Aviation.
According to Civil Aviation Secretary (CAS) P S Kharola, less than 15 aeroplanes of Jet Airways are currently operational. The crisis at airlines is deepened to such extent that debt-ridden carrier's top management internally estimate that the airline would not be able to survive beyond April if lenders funding of Rs 1,500 crores does not come in a week.
Tweet by ANI:
Meanwhile, Naresh Goyal, founder and chairman of Jet Airways, had formally stepped down from the board of the cash-strapped airline. Jet had received loan funding of Rs 180-200 crore last week, which was exhausted in paying December salaries and clearing jet fuel dues.
With debts over One million dollar, Jet Airways had struggled to pay lenders, suppliers, lessors, and pilots for months and was on a brink of bankruptcy, but it was bailed out by state-run banks.
On the world’s biggest aircraft lessors, Avolon, applied to de-register two Boeing 737-800s it had placed with Jet Airways. Dublin-based Avolon has terminated leases on the plane and currently have five more planes places with Jet.
(The above story first appeared on LatestLY on Apr 04, 2019 07:19 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).