Forget Kingfisher, Air India to pay R 4064 crore to oil companies
NEW DELHI: Seems like it is not just Kingfisher which is in dearth of resouces to survive. Air India too has its own worries. The National carrier owes over Rs 4,064 crore in (ATF) bill to state-owned oil companies, the largest overdue payment by any domestic carrier.
Of the total outstanding of Rs 4,064.77 crore, a sum of Rs 2,571.73 crore is overdue payment, the Rajya Sabha was informed today. Unlike private airlines, Air India has not provided any security to cover for its outstanding.
Air India, the unprofitable state-owned carrier, owes Rs 2,393.79 crore to Indian Oil Corp (IOC), of which Rs 1,698.79 crore is overdue payment, Minister of State for Petroleum and Natural Gas Panabaaka Lakshmi said in a written reply.