A major crisis was averted at the cash-starved Jet Airways after national oil marketing major IndianOil resumed fuel supplies to the airline, wꦓhich was halted earli♑er in the day due to the non-payments, sources said Friday.
The supply, which was stopped around noon was restored at around 5 pm after airline assured the oil firm of payment of dues,🧸 sources told PTI.
"Indian Oil Corporation has resumed supply of avi⭕ation turbine fuel to Jet Airways following assurance of payments by the airline," sai✅d a source.
Earlier in the day, Indian Oil had decided to stop supplying fuel to the struggling carrie𒅌r Jet Airways for non-p♊ayment.
The public sector oil marketing firm stopped supplying fuel to the ♚cash-starved carrier from 12 noon Friday, sources told PTI.
Response to a query sent to Jet Airways on this issue was awa𒐪ited.
Jet Airways, in which SBI-led consortium of lenderඣs is set to take management control under a debt-recast plan, has drastically curtailed operations with a fleet of 26 planes.
On March 25, Jet Airways board had approved a resolution plan formulated by SBI-led domestic lenders, under which had agreed to infuse an emergency funding of Rs 1,500 crore into the airline, and convert the same into equity worth 50.1 per cent for a notional value of jus꧃t Re 1 each share.
The airline, however,🏅 has not yet received the much-needed funds.
(PTI)
