Stoppage of fuel supplies due to shortage of funds: Air India Chairman
Stoppage of fuel supplies due to shortage of funds: Air India Chairman
The Chairman and Managing Director of Air India, Ashwani Lohani on Sunday said that stoppage of fuel supplies at six airports from Oil Marketing Companies (OMCs) is because of an overall shortage of funds.
"It is because of an overall shortage of funds but doesn't reflect on the operational performance and recent efforts of the airline," Lohani said.
Earlier, on Friday state-owned oil marketing companies (OMCs) led by Indian Oil stopped jet fuel supply to Air India at six airports - Kochi, Pune, Patna, Ranchi, Vizag and Mohali -- over payment defaults.
"Oil marketing companies (OMCs) led by Indian Oil have stopped jet fuel supply at six airports," Air India Spokesperson Dhananjay Kumar had earlier said in a statement.
Kumar said Air India cannot handle huge debt service liabilities in the absence of equity support. "This fiscal our financial performance is very good and we are moving towards healthy operating profit. Airline despite legacy issues is performing very well," he had maintained.
-ANI
Read More
- Rupee at 72 per dollar hits lowest level since December
- IRCTC Important Alert! Want to cancel your train ticket? Check out new rules for cancellation
- 7 Step Guide to Planning Investments Better for Financial Year 2019-2020
- 7th Pay Commission latest update: Modi government likely to hike salary of central govt employees
- GST slows down market of Parle, may lay off upto 10,000 employees, says reports
READ ON APP