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But the government has not made any move to encash bank guarantees to Kingfisher to recover the dues, Murli Deora said in a written reply to a question in Parliament.
The carrier owns Rs 5.99 billion to Hindustan Petroleum Corp Ltd, Rs 3.14 billion to Bharat Petroleum Corp Ltd and Rs 373.6 million to Indian Oil Corp, Deora said.
The dues of Kingfisher, as of other airlines, had started accumulating from the current fiscal year, when jet fuel prices soared on record high crude oil prices, he said.
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Mind bogging figures and wonder how such level of debts can be allowed to accumulate and that too by a Private carrier. It is sheer waste of Public resources. The Oil Companies and the Government have a lot to answer for this complete mess.
"King of Good Times" is on his way to become " King of Bad Debts". Isn't it tax-payers' hard earned money that is being put ob stake to run a private air-lines? That too one which does not cater to common man. It is there only for VIPs.