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Kingfisher owes oil PSUs Rs950 cr

Kingfisher owes oil PSUs Rs950 cr
PTI
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First Published: Thu, Jul 16 2009. 04 49 PM IST
Updated: Thu, Jul 16 2009. 04 49 PM IST
New Delhi: Vijay Mallaya-owned Kingfisher Airlines owes state-run oil companies over Rs950 crore in unpaid fuel bills while financial crisis-hit NACIL has cleared almost two-thirds of its outstanding.
Kingfisher Airlines owned Rs1,030.08 crore in unpaid bills for buying jet fuel from Indian Oil, Bharat Petroleum and Hindustan Petroleum on 31 December, 2008. It stood at Rs950.46 crore as on 31 May, 2009, Petroleum Minister Murli Deora said in a written reply in Lok Sabha.
On the other hand, National Aviation Company India Ltd (NACIL),which operates the merged state carriers Air India and Indian Airlines, has reduced its outstanding from Rs1,311.91 crore to Rs472.93 crore.
Jet Airways has reduced outstanding from Rs1,266.21 crore to Rs760.07 crore, Deora said.
Kingfisher owned most to HPCL, with its unpaid fuel bill running into Rs598.78 crore. It owed HPCL Rs523.34 crore on 31 December, 2008. Kingfisher also owned BPCL Rs314.32 crore and another Rs37.36 crore to IOC.
NACIL reduced its outstanding towards IOC from Rs877.13 crore to Rs307.49 crore while that towards BPCL came down to Rs91.56 crore from Rs250.43 crore. It owned HPCL Rs73.88 crore, down from Rs184.35 crore, Deora said.
In case airlines fail to pay their dues, they are put on ‘cash and carry´ (pay cash to buy fuel) and interest is recovered on all overdue payments, he said.
Deora said Jet Airways had reduced its outstanding towards IOC from Rs1,053.08 crore to Rs644.96 crore while that towards BPCL to Rs111.77 crore from Rs210.46 crore.
Besides the three airlines, Paramount Airways owed Rs25.82 crore to oil companies and Spice Jet Rs16.24 crore.
“As on 31 December, 2008 and 31 May, 2009, five airlines owned Rs3,658.06 crore and Rs2,225.52 crore respectively to oil companies,” he said.
“The issue of outstanding dues was also taken up with the Ministry of Civil Aviation which advised the airlines to clear their outstanding dues promptly,” he added.
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First Published: Thu, Jul 16 2009. 04 49 PM IST