Singapore Airlines to investment Rs 3,194.5 crore in Air India post-merger of Vistara
Singapore Airlines is set to make an additional investment of Rs 3,194.5 crore in Tata Group-owned Air India post-merger of Vistara in November.
Following non-payment of dues, state-owned oil marketing firms stopped supplying fuel to national carrier Air India at six airports, on Thursday evening.
However, the flight operations of the airline are currently normal and unaffected. The airports where the fuel supply was stopped by the state-owned Oil Marketing Companies (OMCs) at around 4 pm are Cochin, Visakhapatnam, Mohali, Ranchi, Pune and Patna, another official of the national carrier said.
Air India spokesperson said, “In the absence of equity support Air India cannot handle the huge debt service liabilities.”
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“Our financial performance, however, this fiscal is very good and we are moving towards a healthy operating profit. The airline despite its legacy issues is performing very well,” he added.
“We are in discussion with the OMCs to resolve the issue. Additionally, we have also paid Rs60 crore for past supplies and made today’s payments as well,” a senior Air India official said. “Flights have been loaded with return sector fuel to ensure that operation will not get impacted.”
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