Flight operations of cash-strapped Spice Jet were grounded today due to no supply of jet fuel by oil marketing companies. Sources say, not even a single flight has taken off this morning due to fuel supply issue with the oil companies. The state-run oil marketing firms have not yet taken a decision on the resumption of fuel supply to Spice Jet on a two-weeks credit facility. An airline spokesperson said, operations are likely to be normal soon. Coming to the rescue of the beleaguered carrier, the Civil Aviation Ministry had yesterday said, it will request the oil companies and the airport operators to extend a 15-day credit facility to Spice Jet. The Aviation Ministry had said it may request banks and financial institutions to extend loans of up to Rs 600 crore to keep the carrier functional. Besides, the Ministry will also request the Finance Ministry to permit external commercial borrowing (ECB) for working capital as special dispensation to help the airline come out of the crisis.
News On AIR | December 17, 2014 12:42 PM
SpiceJet flights grounded after oil companies stop fuel supply