The impasse between Air India and petroleum giant Indian Oil Corporation (IOC) over the payment of bills has come to an end. The IOC had threatened to halt fuel supply due to non-payment of the bill. The matter was resolved after a meeting with an aviation ministry official last night and now ioc will supply fuel to Air India smoothly.
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"The matter has been resolved after a meeting with the Aviation Ministry," an Air India spokesperson said. The cash-strapped airline is facing problems in paying dues. Last year, when the government wanted to sell 76 per cent of the airline's stake, it owed Rs 54,000 crore.
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The Government then released a working capital loan of about Rs. A lot of money is owed to Air India, including petroleum companies and the Airports Authority of India (AAI). The company is losing Rs 15 crore a day.
According to the source, IOC has threatened to stop fuel supply at some airports like Patna, Pune, Chandigarh, Cochin, Visakhapatnam and Ranchi from 4 pm on Tuesday evening for non-payment of dues. The source had said that if the petroleum company complies with its notice, flights operating at these airports could be affected.
The source had said that in view of Indian Oil's notice, Air India had instructed its crew and the sender to carry fuel to the next area till the situation is normalized.
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