Financially stressed Indian airlines have asked airports and oil marketing companies to provide one month of credit to improve liquidity. The airlines have also requested to waive off penalties in case of late payment.
Federation of Indian Airlines (FIA) a lobby group consisting of IndiGo, SpiceJet, Jet Airways and Go Air which has more than 80 per cent share of the aviation market said that such a move would help them to revive the financials of the companies. In 2009 and 2011 when airlines encountered a similar period of losses, airlines had asked the government to step in.
“We request that the airlines are assisted by an additional one-month unsecured credit by Airport Authority of India (AAI), private airports and the oil marketing companies to tide over these tough times and with a commitment from the member airlines to make staggered payments over the next few months, “Federation of Indian Airlines (FIA) wrote to civil aviation secretary Rajiv Narayan Choubey. Read More