The Oil marketing companies which are being run by State has threatened Kingfisher airlines that if they will not clear their outstanding of Rs 158 crores the oil marketing companies will stop supplying aviation fuel to the airlines from next Wednesday. The oil companies has started supplying the fuel to Kingfisher and Jet Airways on cash and carry basis from last few days due to the nonpayment of their previous dues for the Last week of October. Jet immediately responded to the situation and paid its dues but Kingfisher still hasn’t cleared its dues with Hindustan Petroleum and Bharat Petroleum.
Kingfisher Airlines has been affected the most by hike in ATF prices and this can be seen by the loss of Rs 2500 crores faced by the airlines this year. It was decided on 22nd October’08 that the airlines can pay its dues in six easy installments by end of March this year and also asked Oil marketing companies to revise ATF prices every fortnight instead of every month so that international market also gets benefited from the falling ATF prices.
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