Oil firms supply fuel to SpiceJet on cash payment
December 17, 2014 17:25
After a brief hiatus, oil companies today began supplying jet fuel to Spicejet after the troubled airline paid cash for the purchases. The budget carrier is getting fuel as per the terms of 'cash and carry' agreement put in place about six months back.
"We never stopped supply fuel. We were supplying fuel to them as late as yesterday late afternoon. They did not come to buy fuel after that and so we did not supply any. They came this afternoon and so we are supplying them," a top executive at a public sector oil firm said.
SpiceJet had been put on cash-and-carry about six months back, which meant fuel will be supplied to the aircraft only if they pay for it, they said.
"We never stopped supply fuel. We were supplying fuel to them as late as yesterday late afternoon. They did not come to buy fuel after that and so we did not supply any. They came this afternoon and so we are supplying them," a top executive at a public sector oil firm said.
SpiceJet had been put on cash-and-carry about six months back, which meant fuel will be supplied to the aircraft only if they pay for it, they said.
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