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Indian Oil Halts Fuel Supply To Jet Airways Over Non-Payment Of Dues

This is the second time the refiner has halted fuel supplies to crisis-stricken Jet, which is saddled with over $1.2 billion in debt and owes money to banks, aircraft lessors, suppliers, pilots and others

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Refiner Indian Oil Corp (IOCL) has halted the supply of fuel to struggling carrier Jet Airways since Wednesday afternoon over non-payment of dues, a source with direct knowledge of the matter told Reuters.

This is the second time the refiner has halted fuel supplies to crisis-stricken Jet, which is saddled with over $1.2 billion in debt and owes money to banks, aircraft lessors, suppliers, pilots and others.

IOCL and Jet did not immediately respond to a request for comment.

IOC's move builds pressure on Jet, which has been teetering for weeks, as the debt-laden airline has yet to receive a $218 million loan from its lenders, as part of a rescue deal agreed in late March.

(Reuters)


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