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IOC again stops fuel supply, Jet secures other sources

IANS  |  New Delhi/Mumbai 

The country's largest company, (IOC) on Wednesday once again stopped fuel supply to

However, the said that other continue to supply its aircraft.

According to a senior IOC official, to from 3 p.m on Wednesday over non-payment of dues by the

Last week, the IOC had stopped fuel supply to for some time before restarting the same after receiving assurances over payment of dues.

As per industry insiders, some payments were made to the fuel retailer after lenders gave an emergency funding relief of Rs 33 crore on last Friday.

Jet Airways is already in the midst of a severe liquidity crisis that has affected its operations and resulted in the grounding of several of its aircraft.

The development comes on the day, when lenders of the debt-ridden extended the submission deadline of "expression of interest" for stake sale in the airline to recover their dues.

At present, the airline owes over Rs 8,000 crore to a consortium of lenders, led by the

On Tuesday, the airline was served a legal notice from a section of its pilots demanding payment of salaries, due from January 1, by April 14.

Subsequently, the airline's said the company continues to work with lenders on the balance sheet restructuring plan and will inform the employees about the progress of the process by early next week.

Apart from employees, aircraft lessors are also upset with the current financial situation with some of them requesting the of Civil Aviation (DGCA) to de-register their aircraft leased to the company.

Currently, the airline operates 26 aircraft which includes A330s, 777s, 737-800 and ATRs to various destinations like London, Toronto, Singapore, Amsterdam, Paris, and domestic sectors like Mumbai-among others.

The airline apparently owns 16 aircraft out of these 26.



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

First Published: Wed, April 10 2019. 20:36 IST