After five Air India flights, including an international one, were grounded in Kerala today when oil companies stopped fuel supply to the airlines over non payment of dues, there seems to be a compromise between the national carrier and the companies. The oil companies have agreed to resume fuel supply after Air India agreed to pay all the outstanding dues.
The cash-strapped Air India owes about Rs. 1300 crore to oil companies. It has been buying jet fuel on a daily basis since January this year. This means it pays every day for the fuel it buys.
The daily bill for this fuel was Rs. 22.5 crore before jet fuel prices shot up. The fuel the airline uses now costs over Rs. 25 crore a day, but Air India has been unable to pay the extra about Rs. 2.5 crore.
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