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Jet, Kingfisher, Nacil owe oil firms over Rs2,241 cr

Jet, Kingfisher, Nacil owe oil firms over Rs2,241 cr
PTI
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First Published: Tue, Feb 17 2009. 05 19 PM IST
Updated: Tue, Feb 17 2009. 05 19 PM IST
New Delhi: Jet Airways, Kingfisher Airlines and state-owned Nacil owe public sector oil companies over Rs2,241 crore as payment for jet fuel, minister of state for petroleum and natural gas Dinsha Patel said on Tuesday.
As on 31 December, 2008, the nation’s largest domestic carrier Jet Airways, Vijay Mallaya-owned Kingfisher Airlines and National Aviation Co, which operates Air India and Indian Airlines, together owed Rs3,607.85 crore as fuel payment.
Of this, Rs1,366.39 crore was paid and the remaining Rs2,241.46 crore was outstanding, he said in a written reply to a question in the Rajya Sabha here.
Kingfisher has not paid Rs744.92 crore to fuel retailers IndianOil, Bharat Petroleum and Hindustan Petroleum while Jet owed the three oil firms Rs731.31 crore. Nacil ran a total outstanding of Rs765.23 crore as on 31 December, 2008.
“The airlines have been informed that repeated defaults/delays in clearing their dues will constrain the oil marketing companies (IOC, BPCL and HPCL) to supply them the aviation turbine fuel (ATF) only on a cash and carry basis,” he said.
Kingfisher Airlines owed HPCL Rs523.45 crore and had paid only Rs100.85 crore while it had paid only Rs165.42 crore out of the Rs333.96 crore outstanding it ran with BPCL. Of the Rs172.78 crore outstanding with IOC, it had cleared only Rs19 crore by 31 December.
Patel said Jet Airways had paid only Rs444.71 crore out of the Rs1,053.08 crore outstanding it had with IOC and Rs87.52 crore out of the Rs210.46 crore dues pending with BPCL. It had, however, cleared all of the Rs2.82 crore outstanding with HPCL.
Nacil had paid only Rs362.70 crore out of the Rs877.13 crore it owed IOC, Rs106.52 crore out of the outstanding of Rs362.70 crore with BPCL and Rs76.85 crore from a total of Rs183.74 crore dues with HPCL.
The government had in October given the three cash-strapped airlines more time to clear their fuel bills. The outstanding on 21 October was to be cleared in six monthly installments and future jet fuel or ATF purchases could be made on a enhanced 90-day credit period.
Despite the leniency, Kingfisher had delayed payment of its dues and IOC this month stopped selling jet fuel to it on credit. Fuel sold to Kingfisher is on a cash-and-carry basis, IOC had stated last week.
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First Published: Tue, Feb 17 2009. 05 19 PM IST
More Topics: Airlines | Dues | Kingfisher | Jet | NACIL |