NEW DELHI: 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.