The Indian Oil Corporation has finally stopped the supply of fuel to the Jet Airways for non-payment. The public sector oil firm has made such a decision from 12 noon Friday.
The Jet Airways have not responded to it till now. Jet Airways, in which SBI-led consortium of lenders is set to take management control under a debt-recast plan, has drastically curtailed operations with a fleet of 26 planes.
On March 25, the jet Airways had approved the resolution plan formulated by SBI integrated Domestic lenders which had agreed to infuse an emergency funding of Rs 1,500crore into the airline. The airline, however, did not receive the needed funds yet.
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