GOVERNMENT OF INDIA
Ministry of Petroleum & Natural Gas
RAJYA SABHA
UNSTARRED QUESTION N0.1969
ANSWERED ON DECEMBER 11, 2012
QUESTION
Outstanding Dues of Oil Companies with Airlines
1969. SHRI RAJEEV CHANDRASEKHAR:
Will the Minister of PETROLEUM & NATURAL GAS be pleased to state:
(a) the present status of outstanding dues of public sector oil companies against Air India and private airlines as on date, oil company-wise and airlines-wise; and
(b) the action proposed to be taken to recover the outstanding dues within a time-frame?
ANSWER
MINISTER OF STATE IN THE MINISTRY OF PETROLEUM & NATURAL GAS
(SMT. PANABAAKA LAKSHMI)
(a): The status of outstanding dues of public sector oil companies against Air India and private airlines as on 15.11.2012, companies-wise and airlines-wise is as under:
(Rs. in crores)
Name of the OMC |
Name of Airline |
Total outstanding including interest as on 15.11.12 |
Total overdue including interest as on 15.11.12 |
Security as on 15.11.12 |
IOCL |
Air India |
2393.79 |
1698.79 |
Nil |
Jet Airways |
958.46 |
35.46 |
923.00 |
|
Go Airlines |
99.56 |
Nil |
115.00 |
|
Spice Jet |
91.03 |
Nil |
95.00 |
|
BPCL |
Air India |
636.04 |
368.00 |
Nil |
Jet Airways |
111.00 |
30.84 |
160.00 |
|
Go Airlines |
1.41 |
1.41 |
Nil |
|
HPCL |
Air India |
1034.94 |
504.94 |
Nil |
Kingfisher Airlines |
79.74 |
14.38 |
15.01 (plus additional corporate guarantee of Rs.200 crores) |
|
Paramount Airways |
19.28 |
19.28 |
Nil |
(b): In case airlines fail to pay their dues, OMCs take action for recovery of dues in line with the mutually-agreed commercial terms between them and the Airlines and as per legal processes, inter alia also putting them on 'Cash and Carry', recovery of interest on overdue payments, encashing bank guarantee, seeking post dated cheques for outstanding dues, action of filing suit against defaulting airlines in the Court of law etc.