April 10, 2019 / 11:18 AM / 3 months ago

Indian Oil halts fuel supply to Jet Airways over non-payment of dues -source

NEW DELHI, April 10 (Reuters) - Refiner Indian Oil Corp (IOCL) has halted the supply of fuel to struggling carrier Jet Airways since Wednesday afternoon over non-payment of dues, a source with direct knowledge of the matter told Reuters.

This is the second time the refiner has halted fuel supplies to crisis-stricken Jet, which is saddled with over $1.2 billion in debt and owes money to banks, aircraft lessors, suppliers, pilots and others.

IOCL and Jet did not immediately respond to a request for comment.

IOC’s move builds pressure on Jet, which has been teetering for weeks, as the debt-laden airline has yet to receive a $218 million loan from its lenders, as part of a rescue deal agreed in late March.

Reporting by Aditi Shah Editing by Euan Rocha

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