Category : Industry
Date : Aug-13-2010 10:03
Jet Airways and Kingfisher owe state-owned oil firms over Rs. 1,774 crore in unpaid jet fuel bills.This was said by Minister of State for Petroleum and Natural Gas Jitin Prasada on August 12. He added that as on June 30, Jet Airways had the highest outstanding of Rs. 960.15 crore towards state-owned fuel retailers.Kingfisher had Rs. 814.49 crore in unpaid bills.Meanwhile, Jet owes Rs. 830.4 crore to Indian Oil, Rs. 129.74 crore to Bharat Petroleum and Rs. 0.01 crore to Hindustan Petroleum. Kingfisher, however, owes HPCL Rs. 536.04 crore, BPCL Rs. 248.55 crore and IOC Rs. 29.9 crore.Totally, the 6 private airlines in India owe Rs. 1,887.82 crore to the oil companies. In the meantime, outstanding of Spicejet (Rs. 74.5 crore), Go Air (Rs. 18.8 crore), Indigo (Rs. 0.6 crore) and Paramount Airways (Rs. 19.28 crore) is marginal.That is, when compared to what the giants Jet and Kingfisher owe to the oil firms. On the other hand, Prasada said the airlines are put on ''cash-and-carry'' mode and interest is recovered on all overdue payments, in case of default in payment.Jet Airways is a major Indian airline based in Mumbai, Maharashtra. It is India''s second largest airline after Air India and the market leader in the domestic sector. It operates over 400 flights daily to 67 destinations worldwide. Its main domestic hubs are Mumbai and Delhi. It has an international hub at Brussels Airport, Belgium. Jet Airways is owned by the London-based billionaire Naresh Goyal.Kingfisher Airlines is a major India-based airline group. It has its registered office in the UB Tower in Bangalore and its head office in the Kingfisher House in Vile Parle (East), Mumbai. Kingfisher Airlines, through its parent company United Breweries Group, has a 50% stake in low-cost carrier Kingfisher Red.Kingfisher Airlines is one of six airlines in the world to have a 5-star rating from Skytrax, along with Asiana Airlines, Cathay Pacific, Malaysia Airlines, Qatar Airways and Singapore Airlines. Kingfisher operates more than 375 daily flights to 71 destinations, with regional and long-haul international services. In May 2009, Kingfisher Airlines carried more than a million passengers, giving it the highest market share among airlines in India.
Date : Aug-13-2010 10:03
Jet Airways and Kingfisher owe state-owned oil firms over Rs. 1,774 crore in unpaid jet fuel bills.This was said by Minister of State for Petroleum and Natural Gas Jitin Prasada on August 12. He added that as on June 30, Jet Airways had the highest outstanding of Rs. 960.15 crore towards state-owned fuel retailers.Kingfisher had Rs. 814.49 crore in unpaid bills.Meanwhile, Jet owes Rs. 830.4 crore to Indian Oil, Rs. 129.74 crore to Bharat Petroleum and Rs. 0.01 crore to Hindustan Petroleum. Kingfisher, however, owes HPCL Rs. 536.04 crore, BPCL Rs. 248.55 crore and IOC Rs. 29.9 crore.Totally, the 6 private airlines in India owe Rs. 1,887.82 crore to the oil companies. In the meantime, outstanding of Spicejet (Rs. 74.5 crore), Go Air (Rs. 18.8 crore), Indigo (Rs. 0.6 crore) and Paramount Airways (Rs. 19.28 crore) is marginal.That is, when compared to what the giants Jet and Kingfisher owe to the oil firms. On the other hand, Prasada said the airlines are put on ''cash-and-carry'' mode and interest is recovered on all overdue payments, in case of default in payment.Jet Airways is a major Indian airline based in Mumbai, Maharashtra. It is India''s second largest airline after Air India and the market leader in the domestic sector. It operates over 400 flights daily to 67 destinations worldwide. Its main domestic hubs are Mumbai and Delhi. It has an international hub at Brussels Airport, Belgium. Jet Airways is owned by the London-based billionaire Naresh Goyal.Kingfisher Airlines is a major India-based airline group. It has its registered office in the UB Tower in Bangalore and its head office in the Kingfisher House in Vile Parle (East), Mumbai. Kingfisher Airlines, through its parent company United Breweries Group, has a 50% stake in low-cost carrier Kingfisher Red.Kingfisher Airlines is one of six airlines in the world to have a 5-star rating from Skytrax, along with Asiana Airlines, Cathay Pacific, Malaysia Airlines, Qatar Airways and Singapore Airlines. Kingfisher operates more than 375 daily flights to 71 destinations, with regional and long-haul international services. In May 2009, Kingfisher Airlines carried more than a million passengers, giving it the highest market share among airlines in India.
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