India's SpiceJet Airline Grounds Fleet For Lack Of Fuel
International Business Times
Published Dec 17, 2014 12:27AM ET
India's SpiceJet Airline Grounds Fleet For Lack Of Fuel
By Reuters -
(Reuters) - Budget carrier Spicejet Ltd's (BO:SPJT) aircraft are currently grounded because oil companies have not refueled any of its planes, a spokesman told Reuters on Wednesday. Loss-making SpiceJet owes money to creditors including oil companies.
On Tuesday, the civil aviation ministry said airport operators would be asked to give the airline 15 days to make payments, while state oil companies would be ask to give credit for up to 15 days.
The measures, the ministry said, were aimed at avoiding a collapse which it said would be a "major setback" for the civil aviation sector.
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Written By: International Business Times
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