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Indian Oil resumes fuel supply to Jet Airways

ANI | Updated: Apr 10, 2019 23:25 IST

New Delhi (India) Apr 10 (ANI): Indian Oil Corporation Limited (IOCL) on Wednesday resumed its fuel supply to Jet Airways across the nation.
Earlier in the day, for the third time in the month, the oil giant had halted fuel supply to the airlines due to non-payment of outstanding bills.
“The fuel supply was stopped at 3 pm on Wednesday and the situation is likely to remain the same until the oil company does not receive any assurance of payment,” an IOCL spokesperson had said.
Jet Airways is suffering bruising competition from low-cost airlines, fluctuating crude prices and a weak rupee.
The airline has over one billion dollars in debt and has to repay money to banks, lessors of planes and suppliers besides clearing pending salaries to its pilots.
On March 25, Jet Airways Chairman Naresh Goyal stepped down, paving way for lenders to bail out the financially troubled airline he set up 25 years ago. (ANI)