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Indian Oil resumes fuel supply to Jet Airways

ANI  |  General News 

Corporation Limited (IOCL) on Wednesday resumed its fuel supply to across the nation.

Earlier in the day, for the third time in the month, the giant had halted fuel supply to the airlines due to non-payment of outstanding bills.

"The fuel supply was stopped at 3 pm on Wednesday and the situation is likely to remain the same until the company does not receive any assurance of payment," an IOCL had said.

is suffering bruising competition from low-cost airlines, fluctuating crude prices and a weak rupee.

The has over one billion dollars in debt and has to repay money to banks, lessors of planes and suppliers besides clearing pending salaries to its pilots.

On March 25, stepped down, paving way for lenders to bail out the financially troubled he set up 25 years ago.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, April 10 2019. 23:24 IST
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