How bad has is the financial situation of some of India's largest airlines? Very bad - several of them, Kingfisher and Jet Airways included, have fallen behind on payments for fuel even when they have been given rather loose credit lines. Indian Oil Corp now requires that Kingfisher pay for their fuel immediately at purchase (like when you get your petrol for your car) because they had fallen so far behind in paying for past fuel purchases.
The industry is a mess in India, with airlines losing roughly Rs 1600 for every passenger they fly.
Tuesday, June 10, 2008
Subscribe to:
Post Comments (Atom)
1 comments:
Airlines are also late in paying their dues to the respective airports, so this is progressively getting bad.
Post a Comment